You will have to file one or more of the following forms to report
your gains or losses from involuntary conversions.
Use this form to report your gains and losses from casualties and
Use this form to report involuntary conversions (other than from
casualty or theft) of property used in your trade or business and
capital assets held in connection with a trade or business or a
transaction entered into for profit.
Schedule A (Form 1040).
Use this form to deduct your losses from casualties and thefts of
personal-use property that you reported on Form 4684.
Schedule D (Form 1040).
Use this form to report gain from an involuntary conversion (other
than from casualty or theft) of personal-use property. Also, carry
over the following gains to Schedule D.
- Net gain shown on Form 4797 from an involuntary conversion
of business property held for more than 1 year.
- Net gain shown on Form 4684 from the casualty or theft of
Schedule F (Form 1040).
Use this form to deduct your losses from casualty or theft of
livestock or produce bought for sale under Other expenses
in Part II, line 34, if you use the cash method of accounting
and have not otherwise deducted these losses.