This chapter explains the tax treatment of personal (not business related) casualty losses, theft losses, and losses on deposits.
The chapter also explains the following topics.
- How to figure the amount of your loss.
- How to treat insurance and other reimbursements you receive.
- The deduction limits.
- When and how to report a casualty or theft.
Forms to file.
When you have a casualty or theft, you have to file Form 4684. You will also have to file one or more of the following forms.
- Schedule A (Form 1040), Itemized Deductions
- Schedule D (Form 1040), Capital Gains and Losses
Condemnations.
For information on condemnations of property, see Involuntary Conversions in chapter 1 of Publication 544.
Workbook for casualties and thefts.
Publication 584
is available to help you make a list of your stolen or damaged personal-use property and figure your loss. It includes schedules to
help you figure the loss on your home, its contents, and your motor vehicles.
Other sources of information.
For information on a casualty or theft loss of business or income-producing property, see Publication 547.
For information on a condemnation of your home, see Involuntary Conversions in chapter 1 of Publication 544.
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