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Level 3
May 23, 2021
Question

Is the Texas disaster( FEMA 4586) subject to the 10% AGI limitation and $100 floor or no AGI limitation and the $500 floor?

  • May 23, 2021
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Intuit Community Champion
May 23, 2021
Suzanne2Author
Level 3
May 23, 2021

Yes, I was involved in that discussion and came to the conclusion it is

subject to the 10% rule. Was wondering if anyone heard any updates...... 

Intuit Community Champion
May 23, 2021

IRS instructions for that storm, updated Updated: 12-Mar-2021:

https://www.irs.gov/newsroom/irs-announces-tax-relief-for-texas-severe-winter-storm-victims