Unforeseen disasters happen all the time and they may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could claim a deduction on their tax returns. But there are new restrictions that make these casualty loss deductions much more difficult to take. What’s considered a casualty for tax purposes? It’s a sudden, unexpected or unusual event, such as a hurricane, tornado, flood, earthquake, or fire; an accident or act of vandalism; or even a terrorist attack. Unfavorable changes for casualty loss deductions TCJA made changes for losses incurred in 2018 through 2025.  Generally eliminated are personal casualty loss deductions, except for losses due to federally declared disasters. During 2019, there were presidential declarations of major disasters in...