26 U.S.C. § 139M

The term “qualified wildfire relief payment” means any amount received by or on behalf of an individual as compensation for losses, expenses, or damages (including compensation for additional living expenses, lost wages (other than compensation for lost wages paid by the employer which would have otherwise paid such wages), personal injury, death, or emotional distress) incurred as a result of a qualified wildfire disaster, but only to the extent the losses, expenses, or damages compensated by such payment are not compensated for by insurance or otherwise.

1

1 So in original. Probably should not be capitalized.

December 31, 2014January 1, 2027The term “qualified wildfire disaster” means any Federally  declared disaster (as defined in section 165(i)(5)(A)) declared after , and before , as a result of any forest or range fire.

no deduction or credit shall be allowed (to the individual for whose benefit a qualified wildfire relief payment is made) for, or by reason of, any expenditure to the extent of the amount excluded under this section with respect to such expenditure, and

no increase in the basis or adjusted basis of any property shall result from any amount excluded under this section with respect to such property.