A bill to amend the Internal Revenue Code of 1986 to lower the adjusted gross income threshold for deductible disaster casualty losses to 5 percent, to make such deduction an above-the-line deduction, and to allow an election to take such deduction for the preceding or succeeding year.

Summary

Amends the Internal Revenue Code with respect to the disaster-casualty loss deduction to: (1) modify and lower threshold requirements; and (2) permit declared-area disaster deductions to be taken in the succeeding or preceding year.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 November 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 November 1999

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 19 November 1999

  Open at official source

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