Instructions for IRS Form 4684 Casualties and Thefts

This document contains official instructions for IRS Form 4684 , Casualties and Thefts - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury.

FAQ

Q: What is IRS Form 4684?
A: IRS Form 4684 is used to report casualties and thefts.

Q: When should I use IRS Form 4684?
A: You should use IRS Form 4684 to report losses from casualties and thefts.

Q: What is considered a casualty?
A: A casualty is the damage, destruction, or loss of property due to an identifiable event that is sudden, unexpected, and unusual.

Q: What is considered a theft?
A: A theft is the unlawful taking and removal of money or property with the intent to deprive the owner of it.

Q: What information do I need to complete IRS Form 4684?
A: You will need to provide details about the property, the event that caused the loss, and any insurance or other reimbursements you received.

Q: How do I calculate the amount of loss to report on IRS Form 4684?
A: You generally calculate the loss by subtracting the adjusted basis of the property from the decrease in fair market value as a result of the casualty or theft.

Q: Are there any special rules or limitations for reporting casualty and theft losses?
A: Yes, there are limitations on the amount you can deduct, and certain types of losses may be subject to additional requirements or restrictions.

Q: Can I claim a casualty or theft loss if I have insurance coverage?
A: Yes, you can still claim a casualty or theft loss even if you have insurance coverage, but you must reduce your loss by any insurance or other reimbursements you received.