RP-2016-53: Disaster losses

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October 13, 2016

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Issue Number: RP-2016-53

Inside This Issue

Revenue Procedure 2016-53 contains rules and procedures regarding the election under § 165(i) of the Internal Revenue Code (Code) to deduct a disaster loss for the taxable year immediately preceding the taxable year in which the disaster occurred. Specifically, this revenue procedure provides the procedures and requirements for making and revoking an election under § 165(i).

Revenue Procedure 2016-53 will be published in Internal Revenue Bulletin 2016-44 on Oct. 31, 2016.

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