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Form 4684

Form 4684

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Video instructions and help with filling out and completing Form 4684

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Instructions and help about form 4684 examples

in this video we'll be going over how to calculate your itemized deduction for casualty and theft losses in order to itemize a tax deduction for casualty and theft losses the loss must be attributable to a federally declared disaster it also must be reported on IRS form 4684 in order to calculate the deduction you must first subtract $100 from the amount of the loss if there are multiple losses you must subtract $100 from each separate loss and then the total amount of all losses for the year after the $100 limit must be more than 10% of your adjusted gross income and is determined on line 11 of your form 1040 or 1040s Sr this is also known as AGI do not report net qualified disaster losses from line 15 of your form 4684 instead you will report net qualified disaster losses on line 16 where there are no limitations or floors to to the casualty and theft loss also you cannot include any losses for which you received reimbursement there are additional uh restrictions and there is

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what documents are typically required when filing form 4684 for a casualty loss deduction?
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