H.R. 10891
Lets fraud victims deduct theft losses
Removes a limit on tax deductions for theft losses caused by fraud, deceit, or misrepresentation and lets people claim them without itemizing other deductions.
- Applies to theft losses involving fraud, deceit, or misrepresentation
- Removes the existing limitation on those deductions
- Taxpayers could claim the deduction even if they don't itemize other deductions
In committee