Instructions for IRS Form 4684 Casualties and Thefts

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. An up-to-date fillable IRS Form 4684 is available for download through this link.

FAQ

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

Q: When should I use IRS Form 4684?
A: You should use Form 4684 if you experienced losses from a casualty or theft and want to claim a deduction on your taxes.

Q: What qualifies as a casualty loss?
A: A casualty loss is the loss of property resulting from an identifiable event that is sudden, unexpected, or unusual, such as a fire, flood, or car accident.

Q: What qualifies as a theft loss?
A: A theft loss is the loss of property due to the criminal act of stealing.

Q: How do I fill out IRS Form 4684?
A: You will need to provide information about the property, the type of casualty or theft, the amount of loss, and any insurance reimbursements you received.

Q: Can I deduct the entire loss on my taxes?
A: No, deductible losses are subject to certain limitations and must be reported as itemized deductions on Schedule A of your tax return.

Q: Is there a deadline for filing IRS Form 4684?
A: You should file Form 4684 with your tax return for the year in which the loss occurred.

Q: Do I need to include supporting documentation with Form 4684?
A: Yes, you should keep records of the casualty or theft, including police reports, insurance claims, and other relevant documents, in case the IRS requests them.

Q: Can I carry forward unused casualty or theft losses?
A: No, you cannot carry forward unused losses from casualties or thefts. They must be claimed in the year they occurred.