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IRS Gives Deductions for Housing Katrina Victims

WASHINGTON (CN) - Taxpayers may reduce their claimed taxable income by $2,000 for each person they provide housing for that has been made homeless by Hurricane Katrina or certain floods.

The floods included are those that swept across the mid-west between May 19, 2008 and Aug. 1, 2008.

To qualify for the reduction, tax payers must house displaced persons, rent free, in or on the site of their principal residence for at least 60 consecutive days.

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