Income Tax - Subtraction Modification - Losses From Theft or Fraud
Hearing (House)
Summary
The bill creates a new tax subtraction for personal casualty losses that come from theft or fraud involving qualified retirement‑plan assets. Taxpayers must attach proof of the fraud and the retirement assets to their return, and the subtraction is limited by any existing federal deduction for the same loss. It takes effect for tax years beginning after Dec. 31, 2025.
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Ask about HB 124
3 free questions a day, no accountHearings
- Ways and Means — Bill HearingWays and Means · Jan 29, 2026
History
- Hearing 1/29 at 1:00 p.m.
- First Reading Ways and Means
- Pre-filed
Sponsors
- Vogel · sponsor
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