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Under the TJCA rules in effect for losses that can potentially be deducted in 2019, personal casualty losses incurred by individual taxpayers: A) Are allowed
Under the TJCA rules in effect for losses that can potentially be deducted in 2019, personal casualty losses incurred by individual taxpayers: A) Are allowed as itemized deductions without any limitations. B) Are allowed as above-the-line deductions without any limitations. C) Are completely disallowed for federal income tax purposes. D) Are only allowed if they are due to a federally-declared disaster.
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