Allowing for the deduction of certain capital gains by a crime victim.

HB 1601 allows crime victims in Washington to deduct capital gains losses directly tied to certain crimes from their state taxes. Specifically, it creates a new tax deduction for victims who lost monetary or capital assets due to criminal acts described in Washington statutes (chapters 9.35, 9.38, 9.45, 9A.60, or 9A.90), where the crime involved inducing the sale of a capital asset. To claim the deduction, victims must provide police reports or similar documentation verifying the loss. This provision applies retroactively and prospectively, offering a concrete tax relief mechanism for victims of qualifying crimes.