Form 4684

Form 4684

A form that one files with the IRS to report losses from theft or casualty. With a few exceptions, these losses are tax deductible, provided that they do not come simply from misplaced property and that proper insurance claims are filed.
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See IRS Publication 547, "Casualties, Disasters, and Thefts," and Form 4684, "Casualties and Thefts," to claim a deduction for a loss.
Know what you should file - and how : You can claim your casualty loss on Form 4684, Casualties and Thefts.
The safe harbor provision of the revenue procedure requires the taxpayer to include the heading "Revenue Procedure 2010-36" at the top of Form 4684.
If distribution is due to a casualty or theft, the information necessary for the owner to complete Form 4684, Casualties and Thefts; and
Victims suffering casualty losses should complete Section A (personal use property) of IRS Form 4684, Casualties and Thefts, and carry the deductible loss to Schedule A of Form 1040.
In the case of personal-use property, the deduction is reported on Form 4684 and ultimately reported on Schedule A, Itemized Deductions.
In addition, taxpayers are required to complete and attach Form 4684, Casualty and Thefts, (Section A) to their filed tax return.
The delays affected those who filed Schedule A , Form 8917 Tuition and Fees Deduction, Form 4684 Casualties and Thefts, and/or those claiming the Educator Expense Deduction on Form 1040, line 23 and Form 1040A, line 16.
Options for Filing a Claim: Personal casualty losses are reported on Form 4684, Casualties and Thefts, Section A and entered on Schedule A.
The revenue procedure instructs the taxpayer to mark "Revenue Procedure 2009-20" at the top of Form 4684, Casualties and Thefts, in the discovery year.
Individual losses will be separated into real and personal property on Form 4684, Casualties and Thefts.
In addition to calculating the amount of the theft loss as described above, the safe-harbor rules require the taxpayer to follow specific instructions for filling out Form 4684, Casualties and Thefts.