Losses
(a)General rule — There shall be allowed as a deduction any loss sustained during the taxable year and not compensated for by insurance or otherwise.
(August 16, 1954, chapter 736, 68A Stat. 49; Public Law 85–866, title I, §§ 7, 57(c)(1), title II, § 202(a), September 2, 1958, 72 Stat. 1608, 1646, 1676; Public Law 87–426, § 2(a), March 31, 1962, 76 Stat. 51; Public Law 88–272, title II, §§ 208(a), 238, February 26, 1964, 78 Stat. 43, 128; Public Law 88–348, § 3(a), June 30, 1964, 78 Stat. 237; Public Law 91–606, title III, § 301(h), December 31, 1970, 84 Stat. 1759; Public Law 91–677, § 1(a), January 12, 1971, 84 Stat. 2061; Public Law 91–687, § 1, January 12, 1971, 84 Stat. 2071; Public Law 92–336, § 2(a), July 1, 1972, 86 Stat. 406; Public Law 92–418, § 2(a), August 29, 1972, 86 Stat. 656, 657; Public Law 93–288, title VII, § 702(h), formerly title VI, § 602(h), May 22, 1974, 88 Stat. 164, renumbered title VII, § 702(h), Public Law 103–337, div. C, title XXXIV, § 3411(a)(1), (2), October 5, 1994, 108 Stat. 3100; Public Law 94–455, title XIX, § 1901(a)(26), October 4, 1976, 90 Stat. 1767; Public Law 97–248, title II, § 203(a), (b), title III, § 310(b)(5), September 3, 1982, 96 Stat. 422, 598; Public Law 98–369, div. A, title I, § 42(a)(4), title VII, § 711(c)(1), (2)(A)(i), (ii), title X, § 1051(a), July 18, 1984, 98 Stat. 556, 943, 1044; Public Law 99–514, title IX, § 905(a), title X, § 1004(a), October 22, 1986, 100 Stat. 2385, 2388; Public Law 100–647, title I, § 1009(d)(1), November 10, 1988, 102 Stat. 3449; Public Law 100–707, title I, § 109(l), November 23, 1988, 102 Stat. 4709; Public Law 105–34, title IX, § 912(a), August 5, 1997, 111 Stat. 878; Public Law 106–554, § 1(a)(7) [title III, § 318(b)(1), (2)], December 21, 2000, 114 Stat. 2763, 2763A–645; Public Law 108–311, title IV, § 408(a)(7)(A), (B), October 4, 2004, 118 Stat. 1191; Public Law 110–343, div. C, title VII, § 706(a)(1), (2)(A)–(C), (c), October 3, 2008, 122 Stat. 3921–3923; Public Law 111–147, title V, § 502(a)(2)(D), March 18, 2010, 124 Stat. 107; Public Law 113–295, div. A, title II, §§ 211(c)(1)(C), 221(a)(27)(A)–(C), December 19, 2014, 128 Stat. 4033, 4040; Public Law 115–97, title I, §§ 11044(a), 11050(a), December 22, 2017, 131 Stat. 2087, 2089.)
