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Irs Amended Taxes

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Irs Amended Taxes

Irs amended taxes Index A Additional Medicare Tax, Step 5. Irs amended taxes , Line 18. Irs amended taxes Address change, Change of address. Irs amended taxes Adjustments to income Estimated tax, Adjustments to income. Irs amended taxes Withholding allowances, Adjustments to income (worksheet line 4). Irs amended taxes Worksheet instructions, Deductions and Adjustments Worksheet, Net deductions and adjustments (worksheet line 8). Irs amended taxes AGI, AGI. Irs amended taxes Expected AGI, Expected AGI—Line 1 Aliens Nonresident aliens, Aliens Amended returns, Form Received After Filing, Amended returns. Irs amended taxes Annualized estimated tax worksheets, Worksheet 2-9. Irs amended taxes 2014 Annualized Estimated Tax Worksheet, Worksheet 2-9. Irs amended taxes 2014 Annualized Estimated Tax Worksheet(Continued) Annualized - Capital gains, Worksheet 2-12. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Annualized - Foreign Earned Income, Worksheet 2-13. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 12 Foreign Earned Income Tax Worksheet Annualized - Phaseout of itemized deductions, Worksheet 2-10. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 6 Phaseout of Itemized Deductions Annualized - Qualified dividends, Worksheet 2-12. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Annualized - Reduction of exemption amount, Worksheet 2-11. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 10 Reduction of Exemption Amount Annualized income installment method, Annualized Income Installment Method Capital gains worksheet, underpayment penalty, Worksheet 4-1. Irs amended taxes 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Form 2210, Schedule AI, Annualized Income Installment Method (Schedule AI) Qualified dividends worksheet, underpayment penalty, Worksheet 4-1. Irs amended taxes 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Underpayment penalty, (Schedule AI), Annualized Income Installment Method (Schedule AI) Annuities, Pensions and Annuities Assistance (see Tax help) B Backup withholding, Backup Withholding, Penalties. Irs amended taxes Credit against income tax, Backup withholding. Irs amended taxes C Capital gains and losses Annualized estimated tax, Tax on net capital gain. Irs amended taxes Estimated tax on net capital gain, Tax on net capital gain. Irs amended taxes Qualified dividends, Tax on qualified dividends and capital gains. Irs amended taxes Casualty and theft losses, Itemized deductions (worksheet line 1). Irs amended taxes Waiver of penalty, Waiver of Penalty Change of address, Change of address. Irs amended taxes Change of name, Name changed. Irs amended taxes Charitable contributions, Itemized deductions (worksheet line 1). Irs amended taxes Child and dependent care credit Personal Allowances Worksheet (Form W-4), Child and dependent care credit (worksheet line F). Irs amended taxes Child tax credit Personal Allowances Worksheet (Form W-4), Child tax credit (worksheet line G). Irs amended taxes Claim of right, Itemized deductions (worksheet line 1). Irs amended taxes Commodity credit corporation loans, Federal Payments Community property states, Community property states. Irs amended taxes Compensation, Salaries and Wages Independent contractors, backup withholding, Backup Withholding Supplemental wages, Supplemental Wages Tips, Tips Wages and salaries, Salaries and Wages Crediting of overpayment, Credit an Overpayment Credits 2013 withholding and estimated taxes, Credit for Withholding and Estimated Tax for 2013 Deductions and Adjustments Worksheet (Form W-4), Tax credits (worksheet line 5). Irs amended taxes Estimated tax against income tax, Estimated Tax Excess withholding on social security or railroad retirement taxes, Excess Social Security or Railroad Retirement Tax Withholding Expected taxes and credits, Expected Taxes and Credits— Lines 6–13c Withholding allowances, Tax credits (worksheet line 5). Irs amended taxes Withholding tax, credit for, Withholding Criminal penalties Willfully false or fraudulent Form W-4, Penalties Crop insurance payments, Federal Payments Cumulative wage method of withholding, Cumulative Wage Method D Deductions Home mortgage interest, Itemized deductions (worksheet line 1). Irs amended taxes Worksheet instructions, Deductions and Adjustments Worksheet Dependents Exemptions, Dependents. Irs amended taxes Disabled persons Impairment-related work expenses, Itemized deductions (worksheet line 1). Irs amended taxes Disaster Waiver of penalty, Waiver of Penalty Dividends Backup withholding, Backup Withholding Underreported, Underreported interest or dividends. Irs amended taxes Divorced taxpayers Estimated tax credit, Divorced Taxpayers Form W-4, Single. Irs amended taxes Domestic help, Household workers. Irs amended taxes Definition, Household workers. Irs amended taxes Withholding, Household workers. Irs amended taxes E Earned income credit (EIC), What's New for 2014 Eligible rollover distributions, Eligible Rollover Distributions Employee business expenses Accountable plans, Accountable plan. Irs amended taxes Nonaccountable plans, Nonaccountable plan. Irs amended taxes Reimbursements, Expense allowances. Irs amended taxes Employer Identification Numbers (EINs), Taxpayer identification number. Irs amended taxes Employers Excess withholding on social security and railroad retirement taxes, Two or more employers. Irs amended taxes , Employer's error. Irs amended taxes Repaying withheld tax, Repaying withheld tax. Irs amended taxes Tips, Tips Withholding rules, Rules Your Employer Must Follow Estate beneficiaries Underpayment penalty, Estate or trust payments of estimated tax. Irs amended taxes Estate tax Income in respect of a decedent, Itemized deductions (worksheet line 1). Irs amended taxes Estates Estimated tax, Estates and Trusts Estimated tax Adjustments to income, Adjustments to income. Irs amended taxes Aliens, Aliens, Nonresident aliens. Irs amended taxes Amended tax, Regular Installment Method Annualized income installment method, Annualized Income Installment Method Change in amount, Change in estimated tax. Irs amended taxes Change of address, Change of address. Irs amended taxes Change of name, Name changed. Irs amended taxes Credit against income tax, Estimated Tax Crediting of overpayment, Credit an Overpayment Divorced taxpayers, Divorced Taxpayers Estates and trusts, Estates and Trusts Exemptions, Exemptions—line 4. Irs amended taxes Expected AGI, Expected AGI—Line 1 Expected taxable income, Expected Taxable Income— Lines 2–5 Expected taxes and credits, Expected Taxes and Credits— Lines 6–13c Farmers and fishermen, Farmers and Fishermen, Farmers and fishermen. Irs amended taxes , Farmers and Fishermen Fiscal year taxpayers, Fiscal year taxpayers. Irs amended taxes Higher income individuals, Higher income taxpayers. Irs amended taxes How to figure, How To Figure Estimated Tax, How To Figure Each Payment How to pay, How To Pay Estimated Tax Instructions for Worksheet 2-9, annualized estimated tax, Instructions for the 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9) Itemized deductions, Itemized deductions—line 2. Irs amended taxes Married taxpayers, Married Taxpayers Net capital gain, Tax on net capital gain. Irs amended taxes , Tax on net capital gain. Irs amended taxes No standard deduction, No standard deduction. Irs amended taxes Nonresident aliens, Nonresident aliens. Irs amended taxes Overpayment, Credit an Overpayment Payment vouchers, Pay by Check or Money Order Using the Estimated Tax Payment Voucher Payments not required, Estimated Tax Payments Not Required Regular installment method, Regular Installment Method Required annual payment, Required Annual Payment— Line 14c Self-employment income, Self-employment income. Irs amended taxes Separate returns, Separate Returns Sick pay, Estimated tax. Irs amended taxes Standard deduction, Standard deduction—line 2. Irs amended taxes , Line 7. Irs amended taxes Total estimated tax payments, Total Estimated Tax Payments Needed—Line 16a Types of taxes included, Introduction Underpayment penalty, Underpayment penalty. Irs amended taxes , Underpayment Penalty for 2013 When to pay, When To Pay Estimated Tax When to start payments, When To Start Who does not have to pay, Who Does Not Have To Pay Estimated Tax Who must pay, Who Must Pay Estimated Tax Estimated tax worksheets, Worksheets for Chapter 2, Worksheet 2-1. Irs amended taxes 2014 Estimated Tax Worksheet, Worksheet 2-2. Irs amended taxes 2014 Estimated Tax Worksheet—Line 1 Estimated Taxable Social Security and Railroad Retirement Benefits 2014 annualized estimated tax worksheet, Worksheet 2-9. Irs amended taxes 2014 Annualized Estimated Tax Worksheet Capital gains, tax on, Tax on net capital gain. Irs amended taxes Foreign earned income, Worksheet 2-8. Irs amended taxes 2014 Estimated Tax Worksheet—Line 6 Foreign Earned Income Tax Worksheet Form 1040-ES, Worksheet 2-1. Irs amended taxes 2014 Estimated Tax Worksheet Phaseout of itemized deductions, Worksheet 2-5. Irs amended taxes 2014 Estimated Tax Worksheet—Line 2 Phaseout of Itemized Deductions Railroad retirement benefits, Worksheet 2-2. Irs amended taxes 2014 Estimated Tax Worksheet—Line 1 Estimated Taxable Social Security and Railroad Retirement Benefits Reduction of exemption amount, Worksheet 2-6. Irs amended taxes 2014 Estimated Tax Worksheet—Line 4 Reduction of Exemption Amount Self-employment tax, Worksheet 2-3. Irs amended taxes 2014 Estimated Tax Worksheet—Lines 1 and 11 Estimated Self-Employment Tax and Deduction Worksheet Social security benefits, Worksheet 2-2. Irs amended taxes 2014 Estimated Tax Worksheet—Line 1 Estimated Taxable Social Security and Railroad Retirement Benefits Standard deduction, Worksheet 2-4. Irs amended taxes 2014 Estimated Tax Worksheet—Line 2 Standard Deduction Worksheet Excess social security or railroad retirement tax withholding, Excess Social Security or Railroad Retirement Tax Withholding, How to claim refund of excess tier 2 RRTA. Irs amended taxes Nonrailroad employees worksheet, Worksheet for Nonrailroad Employees Railroad employees worksheets, Worksheets for Railroad Employees Exemption from withholding, Exemption From Withholding Claiming, Claiming exemption from withholding. Irs amended taxes Good for only one year, An exemption is good for only 1 year. Irs amended taxes Itemized deductions, Itemizing deductions or claiming exemptions or credits. Irs amended taxes Students, Students. Irs amended taxes Exemptions, Line 10. Irs amended taxes Dependents, Dependents. Irs amended taxes Expected taxable income, Exemptions—line 4. Irs amended taxes Personal Allowances Worksheet, Exemptions (worksheet lines A, C, and D). Irs amended taxes Self, Self. Irs amended taxes Spouse, Spouse. Irs amended taxes Withholding allowances, Withholding Allowances Expenses, Itemized deductions (worksheet line 1). Irs amended taxes Allowances, Expense allowances. Irs amended taxes F Farmers Estimated tax, Special Rules, Farmers and fishermen. Irs amended taxes , Farmers and Fishermen Fiscal years, Fiscal year farmers and fishermen. Irs amended taxes Gross income, Gross income from farming. Irs amended taxes Joint returns, Joint returns. Irs amended taxes Required annual payment, Farmers and fishermen. Irs amended taxes Underpayment penalty, Farmers and fishermen. Irs amended taxes , Farmers and Fishermen Waiver of underpayment penalty, Farmers and fishermen. Irs amended taxes Withholding for farmworkers, Farmworkers. Irs amended taxes Figures Tables and figures (see Tables and figures) Fiscal years Estimated tax, Fiscal year taxpayers. Irs amended taxes Farmers and fishermen, Fiscal year farmers and fishermen. Irs amended taxes Withholding tax credit, Fiscal Years (FY) Fishermen Estimated tax, Special Rules, Farmers and fishermen. Irs amended taxes , Farmers and Fishermen Fiscal years, Fiscal year farmers and fishermen. Irs amended taxes Gross income, Gross income from fishing. Irs amended taxes Joint returns, Joint returns. Irs amended taxes Required annual payment, Farmers and fishermen. Irs amended taxes Underpayment penalty, Farmers and fishermen. Irs amended taxes , Farmers and Fishermen Waiver of underpayment penalty, Farmers and fishermen. Irs amended taxes Form 1040-ES, Introduction, How To Pay Estimated Tax Form 1040-ES (NR), Aliens Form 1040X, Form Received After Filing Form 1041-ES, Estates and Trusts Form 1099 series, Backup Withholding, The 1099 Series Form 2210, Form 2210. Irs amended taxes , Figuring Your Required Annual Payment (Part I) Form 2210-F, Form 2210-F. Irs amended taxes Form W-2, Form W-2 Form W-2c, Form Not Correct Form W-2G, Form W-2G. Irs amended taxes , Form W-2G Form W-4 worksheets, Completing Form W-4 and Worksheets Completing of, Completing Form W-4 and Worksheets Deductions and adjustments worksheet, Deductions and Adjustments Worksheet IRS withholding calculator, IRS Withholding Calculator. Irs amended taxes Number of allowances claimed, Only one job (worksheet line B). Irs amended taxes Two-Earners/Multiple Jobs Worksheet, Two-Earners/Multiple Jobs Worksheet Withholding allowances, Completing Form W-4 and Worksheets, Form W-4 worksheets. Irs amended taxes Form W-4, Employee's Allowance Withholding Certificate, Determining Amount of Tax Withheld Using Form W-4 Form W-4P, Periodic Payments Form W-4S, Form W-4S. Irs amended taxes Form W-4V, Unemployment Compensation Form W-7, Taxpayer identification number. Irs amended taxes Form W-9, Withholding rules. Irs amended taxes Fraud Form W-4 statements, Penalties Free tax services, Free help with your tax return. Irs amended taxes Fringe benefits, Taxable Fringe Benefits, More information. Irs amended taxes G Gambling Form W-2G, Form W-2G Losses, Itemized deductions (worksheet line 1). Irs amended taxes , Form W-2G Winnings, Form W-2G Gross income, Gross income. Irs amended taxes Farming, Gross income from farming. Irs amended taxes Fishing, Gross income from fishing. Irs amended taxes H Head of household Personal Allowances Worksheet, Head of household filing status (worksheet line E). Irs amended taxes Withholding allowance, Head of household filing status (worksheet line E). Irs amended taxes Help (see Tax help) Higher income individuals Required annual payment, Higher income taxpayers. Irs amended taxes Underpayment penalty, Higher income taxpayers. Irs amended taxes Household workers, Household workers. Irs amended taxes I Individual retirement arrangements (IRAs), Pensions and Annuities (see also Pensions) Interest income Backup withholding, Backup Withholding Underreported, Underreported interest or dividends. Irs amended taxes IRS withholding calculator, IRS Withholding Calculator. Irs amended taxes Itemized deductions Deductions and Adjustments Worksheet, Itemized deductions (worksheet line 1). Irs amended taxes Estimated tax, expected taxable income, Itemized deductions—line 2. Irs amended taxes Exemption from withholding, Itemizing deductions or claiming exemptions or credits. Irs amended taxes Gambling losses, Itemized deductions (worksheet line 1). Irs amended taxes , Form W-2G J Joint returns Excess withholding on social security and railroad retirement taxes, Joint returns. Irs amended taxes Farmers and fishermen, Joint returns. Irs amended taxes Underpayment penalty, 2012 separate returns and 2013 joint return. Irs amended taxes M Marital status Form W-4 worksheet, Marital Status Withholding rate, Marital Status Married taxpayers, Joint returns. Irs amended taxes (see also Joint returns) Estimated tax, Married Taxpayers Marital status, Married. Irs amended taxes Withholding allowances, Married individuals. Irs amended taxes Medical and dental expenses, Itemized deductions (worksheet line 1). Irs amended taxes Military retirement pay, Military retirees. Irs amended taxes , Periodic Payments Missing children, photographs of, Reminders Multiple jobs Excess social security and railroad retirement withholding, Excess Social Security or Railroad Retirement Tax Withholding Withholding allowances, Multiple jobs. Irs amended taxes N Name change, Name changed. Irs amended taxes Net investment income tax, Step 5. Irs amended taxes , Line 18. Irs amended taxes NIIT, Step 5. Irs amended taxes , Line 18. Irs amended taxes Noncitizens Estimated tax, Aliens Withholding, Single. Irs amended taxes , Employees who are not citizens or residents. Irs amended taxes Nonqualified deferred compensation, Periodic Payments Nonresident aliens Estimated tax, Aliens, Nonresident aliens. Irs amended taxes Individual taxpayer identification numbers (ITINs), Taxpayer identification number. Irs amended taxes O Overpayment Crediting to estimated tax, Credit an Overpayment P Part-year method of withholding, Part-Year Method Patronage dividends Backup withholding, Backup Withholding Payment vouchers, Pay by Check or Money Order Using the Estimated Tax Payment Voucher Penalties Backup withholding, Penalties. Irs amended taxes Underpayment of estimated tax, Underpayment Penalty for 2013 Waiver of underpayment penalty, Waiver of Penalty Willfully false or fraudulent Form W-4, Penalties Withholding allowances, Penalties Pensions, Pensions and Annuities New job, Employee also receiving pension income. Irs amended taxes Rollovers, Eligible Rollover Distributions Wages and salaries withholding rules compared, Withholding rules. Irs amended taxes Personal Allowances Worksheet, Personal Allowances Worksheet, Total personal allowances (worksheet line H). Irs amended taxes Publications (see Tax help) R Railroad retirement benefits Choosing to withhold, Federal Payments Railroad retirement tax Excess withholding, Excess Social Security or Railroad Retirement Tax Withholding, Worksheets for Railroad Employees Refund claims (tier 2), How to claim refund of excess tier 2 RRTA. Irs amended taxes Regular installment method, estimated tax, Regular Installment Method Reimbursements, Expense allowances. Irs amended taxes Excess, Accountable plan. Irs amended taxes Reporting Fringe benefits, How your employer reports your benefits. Irs amended taxes Gambling winnings, Information to give payer. Irs amended taxes Tips to employer, Reporting tips to your employer. Irs amended taxes Required annual payment, Required Annual Payment— Line 14c, Example. Irs amended taxes Retirement plans Pension plans, Pensions and Annuities Pensions, Pensions and Annuities Rollovers, Eligible Rollover Distributions State or local deferred compensation plan payments, Periodic Payments Rollovers, Eligible Rollover Distributions Royalties Backup withholding, Backup Withholding S Salaries, Salaries and Wages Saturday, Sunday, holiday rule, Saturday, Sunday, holiday rule. Irs amended taxes Self-employment tax, Self-employment income. Irs amended taxes Separate returns Estimated tax credit, Separate Returns Underpayment penalty, 2012 joint return and 2013 separate returns. Irs amended taxes Withholding tax credit, Separate Returns Sick pay, Sick Pay, Estimated tax. Irs amended taxes Single marital status, Single. Irs amended taxes Social security benefits Choosing to withhold, Federal Payments Social security taxes Excess withholding, Excess Social Security or Railroad Retirement Tax Withholding Taxpayer identification numbers (TINs), Taxpayer identification number. Irs amended taxes Withholding obligation, Reminders Spouse, Marital Status (see also Married taxpayers) Exemption, Spouse. Irs amended taxes Marital status, Marital Status Personal Allowances Worksheet, Spouse. Irs amended taxes Standard deduction, Standard deduction—line 2. Irs amended taxes , Line 7. Irs amended taxes State and local income taxes and property taxes, Itemized deductions (worksheet line 1). Irs amended taxes State or local deferred compensation plan payments, Periodic Payments Students, Students. Irs amended taxes Supplemental wages, Supplemental Wages T Tables and figures Do you have to pay estimated tax? (Figure 2-A), Exemption from withholding on Form W-4 (Figure 1-A), Railroad retirement, maximum withholding (Table 3-2), Table 3-2. Irs amended taxes Maximum Social Security and RRTA Withholding for 2013 Social security, maximum withholding (Table 3-2), Table 3-2. Irs amended taxes Maximum Social Security and RRTA Withholding for 2013 Worksheets, where to find, Worksheets for Chapter 2 Tax help, How To Get Tax Help Tax Rate Schedules, 2014 Tax Rate Schedules Taxpayer identification numbers (TINs), Taxpayer identification number. Irs amended taxes Tips, Tips, More information. Irs amended taxes Total income, Total income. Irs amended taxes Trust beneficiaries Underpayment penalty, Estate or trust payments of estimated tax. Irs amended taxes TTY/TDD information, How To Get Tax Help Two-Earners/Multiple Jobs Worksheet, Two-Earners/Multiple Jobs Worksheet U Underpayment penalty, Underpayment Penalty for 2013, Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Actual withholding method, Actual withholding method. Irs amended taxes Amended estimated tax, Underpayment penalty. Irs amended taxes Amended returns, Amended returns. Irs amended taxes Annualized income installment method, Annualized Income Installment Method (Schedule AI) Beneficiaries of estates and trusts, Estate or trust payments of estimated tax. Irs amended taxes Capital gains (Worksheet 4-1), Worksheet 4-1. Irs amended taxes 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Exceptions, Exceptions Farmers and fishermen, Farmers and fishermen. Irs amended taxes , Farmers and Fishermen, Farmers and fishermen. Irs amended taxes Figuring, IRS can figure the penalty for you. Irs amended taxes , Short Method for Figuring the Penalty (Part III), Regular Method for Figuring the Penalty (Part IV) Higher income individuals, Higher income taxpayers. Irs amended taxes Joint returns, 2012 separate returns and 2013 joint return. Irs amended taxes Lowering or eliminating, Lowering or eliminating the penalty. Irs amended taxes Minimum required each period, Minimum required each period. Irs amended taxes No penalty, No penalty. Irs amended taxes No tax liability last year exception, No Tax Liability Last Year Paid through withholding, Paid through withholding. Irs amended taxes , Actual withholding method. Irs amended taxes Penalty figured for each period, Penalty figured separately for each period. Irs amended taxes Penalty thresholds, General Rule Qualified dividends (Worksheet 4-1), Worksheet 4-1. Irs amended taxes 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Required annual payment, Figuring Your Required Annual Payment (Part I) Schedule AI, Annualized Income Installment Method (Schedule AI) Separate returns, 2012 joint return and 2013 separate returns. Irs amended taxes Waiver, Waiver of Penalty When charged, When penalty is charged. Irs amended taxes Unemployment compensation, Unemployment Compensation, Form 1099-G. Irs amended taxes W Wages and salaries, Salaries and Wages Waiver of penalty, Waiver of Penalty Withholding Allowances, Withholding Allowances, Alternative method of figuring withholding allowances. Irs amended taxes , Only one job (worksheet line B). Irs amended taxes Personal Allowances Worksheet, Personal Allowances Worksheet Amended returns, Form Received After Filing Amount of tax withheld, Form W-4, Determining Amount of Tax Withheld Using Form W-4 Annuities, Pensions and Annuities Backup withholding, Backup Withholding Changing, Changing Your Withholding Checking amount of, Checking Your Withholding Choosing not to withhold, Choosing Not To Have Income Tax Withheld Community property states, Community property states. Irs amended taxes Credit against income tax, Withholding Cumulative wage method, Cumulative Wage Method Deductions and adjustments worksheet, Deductions and Adjustments Worksheet Divorced taxpayers, Single. Irs amended taxes Domestic help, Household workers. Irs amended taxes Employers' rules, Rules Your Employer Must Follow Estimated tax, Withholding—line 15. Irs amended taxes Excess social security and railroad retirement taxes, Excess Social Security or Railroad Retirement Tax Withholding Exemption from, Exemption From Withholding Farmworkers, Farmworkers. Irs amended taxes Fiscal years, Fiscal Years (FY) Form received after filing, Form Received After Filing Form W-2, Form W-2 Form W-2c, Form Not Correct Form W-2G, Form W-2G. Irs amended taxes , Form W-2G Form W-4, Determining Amount of Tax Withheld Using Form W-4 Fringe benefits, Taxable Fringe Benefits Gambling winnings, Gambling Winnings, Backup withholding on gambling winnings. Irs amended taxes , Form W-2G Getting right amount of tax withheld, Getting the Right Amount of Tax Withheld, IRS Withholding Calculator. Irs amended taxes Household workers, Household workers. Irs amended taxes Marital status, Marital Status Married taxpayers, Married. Irs amended taxes , Married individuals. Irs amended taxes Multiple jobs, Multiple jobs. Irs amended taxes Noncitizens, Single. Irs amended taxes , Employees who are not citizens or residents. Irs amended taxes Nonperiodic payments, Nonperiodic Payments Part-year method, Part-Year Method Penalties, Penalties Pensions, Pensions and Annuities Periodic payments, Periodic Payments Railroad retirement benefits, Federal Payments Repaying withheld tax, Repaying withheld tax. Irs amended taxes Rollovers, Eligible Rollover Distributions Salaries and wages, Salaries and Wages Separate returns, Separate Returns Sick pay, Sick Pay Single taxpayers, Single. Irs amended taxes Social security (FICA) tax, Reminders, Federal Payments Tips, Tips Types of income, Introduction, Salaries and Wages Underpayment penalty, Paid through withholding. Irs amended taxes , Actual withholding method. Irs amended taxes Unemployment compensation, Unemployment Compensation Worksheet for Form 2210, Part IV, Section B-Figure the Penalty Penalty Worksheet, Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Worksheets (blank) Annualized - Capital gains (Worksheet 2-12), Worksheet 2-12. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Annualized - Foreign Earned Income (Worksheet 2-13), Worksheet 2-13. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 12 Foreign Earned Income Tax Worksheet Annualized - Phaseout of itemized deductions (Worksheet 2-10), Worksheet 2-10. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 6 Phaseout of Itemized Deductions Annualized - Qualified dividends (Worksheet 2-12), Worksheet 2-12. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Annualized - Reduction of exemption amount (Worksheet 2-11), Worksheet 2-11. Irs amended taxes 2014 Annualized Estimated Tax Worksheet—Line 10 Reduction of Exemption Amount Annualized estimated tax (Worksheet 2-9), Worksheet 2-9. Irs amended taxes 2014 Annualized Estimated Tax Worksheet, Worksheet 2-9. Irs amended taxes 2014 Annualized Estimated Tax Worksheet(Continued) Capital gains tax worksheet Worksheet 4-1, Worksheet 4-1. Irs amended taxes 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Dependents (age 65 or older or blind) exemption from withholding (Worksheet 1-4), Worksheet 1-4. Irs amended taxes Exemption From Withholding for Dependents Age 65 or Older or Blind Estimated tax worksheets (Worksheet 2-1), Worksheet 2-1. Irs amended taxes 2014 Estimated Tax Worksheet Foreign earned income (Worksheet 2-8), Worksheet 2-8. Irs amended taxes 2014 Estimated Tax Worksheet—Line 6 Foreign Earned Income Tax Worksheet Phaseout of itemized deductions (Worksheet 2-5), Worksheet 2-5. Irs amended taxes 2014 Estimated Tax Worksheet—Line 2 Phaseout of Itemized Deductions Qualified dividends Worksheet 4-1, Worksheet 4-1. Irs amended taxes 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Railroad retirement benefits (Worksheet 2-2), Worksheet 2-2. Irs amended taxes 2014 Estimated Tax Worksheet—Line 1 Estimated Taxable Social Security and Railroad Retirement Benefits Reduction of exemption amount (Worksheet 2-6), Worksheet 2-6. Irs amended taxes 2014 Estimated Tax Worksheet—Line 4 Reduction of Exemption Amount Self-employment tax and deduction (Worksheet 2-3), Worksheet 2-3. Irs amended taxes 2014 Estimated Tax Worksheet—Lines 1 and 11 Estimated Self-Employment Tax and Deduction Worksheet Social security benefits (Worksheet 2-2), Worksheet 2-2. Irs amended taxes 2014 Estimated Tax Worksheet—Line 1 Estimated Taxable Social Security and Railroad Retirement Benefits Standard deduction (Worksheet 2-4), Worksheet 2-4. Irs amended taxes 2014 Estimated Tax Worksheet—Line 2 Standard Deduction Worksheet Prev  Up     Home   More Online Publications
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The Irs Amended Taxes

Irs amended taxes 25. Irs amended taxes   Nonbusiness Casualty and Theft Losses Table of Contents What's New Introduction Useful Items - You may want to see: CasualtyFamily pet. Irs amended taxes Progressive deterioration. Irs amended taxes Damage from corrosive drywall. Irs amended taxes Theft Loss on Deposits Proof of Loss Figuring a LossDecrease in Fair Market Value Adjusted Basis Insurance and Other Reimbursements Single Casualty on Multiple Properties Deduction Limits$100 Rule 10% Rule When To Report Gains and LossesDisaster Area Loss How To Report Gains and Losses What's New New Section C of Form 4684 for Ponzi-type investment schemes. Irs amended taxes  Section C of Form 4684 is new for 2013. Irs amended taxes You must complete Section C if you are claiming a theft loss deduction due to a Ponzi-type investment scheme and are using Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58. Irs amended taxes Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. Irs amended taxes You do not need to complete Appendix A. Irs amended taxes For details, see Losses from Ponzi-type investment schemes , in this chapter. Irs amended taxes Introduction This chapter explains the tax treatment of personal (not business or investment related) casualty losses, theft losses, and losses on deposits. Irs amended taxes The chapter also explains the following  topics. Irs amended taxes How to figure the amount of your loss. Irs amended taxes How to treat insurance and other reimbursements you receive. Irs amended taxes The deduction limits. Irs amended taxes When and how to report a casualty or theft. Irs amended taxes Forms to file. Irs amended taxes    When you have a casualty or theft, you have to file Form 4684. Irs amended taxes You will also have to file one or more of the following forms. Irs amended taxes Schedule A (Form 1040), Itemized Deductions Schedule D (Form 1040), Capital Gains and Losses Condemnations. Irs amended taxes   For information on condemnations of property, see Involuntary Conversions in chapter 1 of Publication 544, Sales and Other Disposition of Assets. Irs amended taxes Workbook for casualties and thefts. Irs amended taxes    Publication 584 is available to help you make a list of your stolen or damaged personal-use property and figure your loss. Irs amended taxes It includes schedules to help you figure the loss on your home, its contents, and your motor vehicles. Irs amended taxes Business or investment-related losses. Irs amended taxes   For information on a casualty or theft loss of business or income-producing property, see Publication 547, Casualties, Disasters, and Thefts. Irs amended taxes Useful Items - You may want to see: Publication 544 Sales and Other Dispositions  of Assets 547 Casualties, Disasters, and   Thefts 584 Casualty, Disaster, and Theft   Loss Workbook (Personal-Use  Property) Form (and Instructions) Schedule A (Form 1040) Itemized Deductions Schedule D (Form 1040) Capital Gains and Losses 4684 Casualties and Thefts Casualty A casualty is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. Irs amended taxes A sudden event is one that is swift, not gradual or progressive. Irs amended taxes An unexpected event is one that is ordinarily unanticipated and unintended. Irs amended taxes An unusual event is one that is not a day-to-day occurrence and that is not typical of the activity in which you were engaged. Irs amended taxes Deductible losses. Irs amended taxes   Deductible casualty losses can result from a number of different causes, including the following. Irs amended taxes Car accidents (but see Nondeductible losses , next, for exceptions). Irs amended taxes Earthquakes. Irs amended taxes Fires (but see Nondeductible losses , next, for exceptions). Irs amended taxes Floods. Irs amended taxes Government-ordered demolition or relocation of a home that is unsafe to use because of a disaster as discussed under Disaster Area Losses in Publication 547. Irs amended taxes Mine cave-ins. Irs amended taxes Shipwrecks. Irs amended taxes Sonic booms. Irs amended taxes Storms, including hurricanes and tornadoes. Irs amended taxes Terrorist attacks. Irs amended taxes Vandalism. Irs amended taxes Volcanic eruptions. Irs amended taxes Nondeductible losses. Irs amended taxes   A casualty loss is not deductible if the damage or destruction is caused by the following. Irs amended taxes Accidentally breaking articles such as glassware or china under normal conditions. Irs amended taxes A family pet (explained below). Irs amended taxes A fire if you willfully set it or pay someone else to set it. Irs amended taxes A car accident if your willful negligence or willful act caused it. Irs amended taxes The same is true if the willful act or willful negligence of someone acting for you caused the accident. Irs amended taxes Progressive deterioration (explained later). Irs amended taxes Family pet. Irs amended taxes   Loss of property due to damage by a family pet is not deductible as a casualty loss unless the requirements discussed earlier under Casualty are met. Irs amended taxes Example. Irs amended taxes Your antique oriental rug was damaged by your new puppy before it was housebroken. Irs amended taxes Because the damage was not unexpected and unusual, the loss is not deductible as a casualty loss. Irs amended taxes Progressive deterioration. Irs amended taxes    Loss of property due to progressive deterioration is not deductible as a casualty loss. Irs amended taxes This is because the damage results from a steadily operating cause or a normal process, rather than from a sudden event. Irs amended taxes The following are examples of damage due to progressive deterioration. Irs amended taxes The steady weakening of a building due to normal wind and weather conditions. Irs amended taxes The deterioration and damage to a water heater that bursts. Irs amended taxes However, the rust and water damage to rugs and drapes caused by the bursting of a water heater does qualify as a casualty. Irs amended taxes Most losses of property caused by droughts. Irs amended taxes To be deductible, a drought-related loss generally must be incurred in a trade or business or in a transaction entered into for profit. Irs amended taxes Termite or moth damage. Irs amended taxes The damage or destruction of trees, shrubs, or other plants by a fungus, disease, insects, worms, or similar pests. Irs amended taxes However, a sudden destruction due to an unexpected or unusual infestation of beetles or other insects may result in a casualty loss. Irs amended taxes Damage from corrosive drywall. Irs amended taxes   Under a special procedure, you may be able to claim a casualty loss deduction for amounts you paid to repair damage to your home and household appliances that resulted from corrosive drywall. Irs amended taxes For details, see Publication 547. Irs amended taxes Theft A theft is the taking and removing of money or property with the intent to deprive the owner of it. Irs amended taxes The taking of property must be illegal under the laws of the state where it occurred and it must have been done with criminal intent. Irs amended taxes You do not need to show a conviction for theft. Irs amended taxes Theft includes the taking of money or property by the following means. Irs amended taxes Blackmail. Irs amended taxes Burglary. Irs amended taxes Embezzlement. Irs amended taxes Extortion. Irs amended taxes Kidnapping for ransom. Irs amended taxes Larceny. Irs amended taxes Robbery. Irs amended taxes The taking of money or property through fraud or misrepresentation is theft if it is illegal under state or local law. Irs amended taxes Decline in market value of stock. Irs amended taxes   You cannot deduct as a theft loss the decline in market value of stock acquired on the open market for investment if the decline is caused by disclosure of accounting fraud or other illegal misconduct by the officers or directors of the corporation that issued the stock. Irs amended taxes However, you can deduct as a capital loss the loss you sustain when you sell or exchange the stock or the stock becomes completely worthless. Irs amended taxes You report a capital loss on Schedule D (Form 1040). Irs amended taxes For more information about stock sales, worthless stock, and capital losses, see chapter 4 of Publication 550. Irs amended taxes Mislaid or lost property. Irs amended taxes   The simple disappearance of money or property is not a theft. Irs amended taxes However, an accidental loss or disappearance of property can qualify as a casualty if it results from an identifiable event that is sudden, unexpected, or unusual. Irs amended taxes Sudden, unexpected, and unusual events are defined earlier. Irs amended taxes Example. Irs amended taxes A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. Irs amended taxes The diamond falls from the ring and is never found. Irs amended taxes The loss of the diamond is a casualty. Irs amended taxes Losses from Ponzi-type investment schemes. Irs amended taxes   If you had a loss from a Ponzi-type investment scheme, see: Revenue Ruling 2009-9, 2009-14 I. Irs amended taxes R. Irs amended taxes B. Irs amended taxes 735 (available at www. Irs amended taxes irs. Irs amended taxes gov/irb/2009-14_IRB/ar07. Irs amended taxes html). Irs amended taxes Revenue Procedure 2009-20, 2009-14 I. Irs amended taxes R. Irs amended taxes B. Irs amended taxes 749 (available at www. Irs amended taxes irs. Irs amended taxes gov/irb/2009-14_IRB/ar11. Irs amended taxes html). Irs amended taxes Revenue Procedure 2011-58, 2011-50 I. Irs amended taxes R. Irs amended taxes B. Irs amended taxes 849 (available at www. Irs amended taxes irs. Irs amended taxes gov/irb/2011-50_IRB/ar11. Irs amended taxes html). Irs amended taxes If you qualify to use Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58, and you choose to follow the procedures in the guidance, first fill out Section C of Form 4684 to determine the amount to enter on Section B, line 28. Irs amended taxes Skip lines 19 to 27. Irs amended taxes Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. Irs amended taxes You do not need to complete Appendix A. Irs amended taxes For more information, see the above revenue ruling and revenue procedures, and the Instructions for Form 4684. Irs amended taxes   If you choose not to use the procedures in Revenue Procedure 2009-20, you may claim your theft loss by filling out Section B, lines 19 to 39, as appropriate. Irs amended taxes Loss on Deposits A loss on deposits can occur when a bank, credit union, or other financial institution becomes insolvent or bankrupt. Irs amended taxes If you incurred this type of loss, you can choose one of the following ways to deduct the loss. Irs amended taxes As a casualty loss. Irs amended taxes As an ordinary loss. Irs amended taxes As a nonbusiness bad debt. Irs amended taxes Casualty loss or ordinary loss. Irs amended taxes   You can choose to deduct a loss on deposits as a casualty loss or as an ordinary loss for any year in which you can reasonably estimate how much of your deposits you have lost in an insolvent or bankrupt financial institution. Irs amended taxes The choice is generally made on the return you file for that year and applies to all your losses on deposits for the year in that particular financial institution. Irs amended taxes If you treat the loss as a casualty or ordinary loss, you cannot treat the same amount of the loss as a nonbusiness bad debt when it actually becomes worthless. Irs amended taxes However, you can take a nonbusiness bad debt deduction for any amount of loss that is more than the estimated amount you deducted as a casualty or ordinary loss. Irs amended taxes Once you make this choice, you cannot change it without permission from the Internal Revenue Service. Irs amended taxes   If you claim an ordinary loss, report it as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23. Irs amended taxes The maximum amount you can claim is $20,000 ($10,000 if you are married filing separately) reduced by any expected state insurance proceeds. Irs amended taxes Your loss is subject to the 2%-of-adjusted-gross-income limit. Irs amended taxes You cannot choose to claim an ordinary loss if any part of the deposit is federally insured. Irs amended taxes Nonbusiness bad debt. Irs amended taxes   If you do not choose to deduct the loss as a casualty loss or as an ordinary loss, you must wait until the year the actual loss is determined and deduct the loss as a nonbusiness bad debt in that year. Irs amended taxes How to report. Irs amended taxes   The kind of deduction you choose for your loss on deposits determines how you report your loss. Irs amended taxes If you choose: Casualty loss — report it on Form 4684 first and then on Schedule A (Form 1040). Irs amended taxes Ordinary loss — report it on Schedule A (Form 1040) as a miscellaneous itemized deduction. Irs amended taxes Nonbusiness bad debt — report it on Form 8949 first and then on Schedule D (Form 1040). Irs amended taxes More information. Irs amended taxes   For more information, see Special Treatment for Losses on Deposits in Insolvent or Bankrupt Financial Institutions in the Instructions for Form 4684 or Deposit in Insolvent or Bankrupt Financial Institution in Publication 550. Irs amended taxes Proof of Loss To deduct a casualty or theft loss, you must be able to prove that you had a casualty or theft. Irs amended taxes You also must be able to support the amount you take as a deduction. Irs amended taxes Casualty loss proof. Irs amended taxes   For a casualty loss, your records should show all the following. Irs amended taxes The type of casualty (car accident, fire, storm, etc. Irs amended taxes ) and when it occurred. Irs amended taxes That the loss was a direct result of the casualty. Irs amended taxes That you were the owner of the property or, if you leased the property from someone else, that you were contractually liable to the owner for the damage. Irs amended taxes Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Irs amended taxes Theft loss proof. Irs amended taxes   For a theft loss, your records should show all the following. Irs amended taxes When you discovered that your property was missing. Irs amended taxes That your property was stolen. Irs amended taxes That you were the owner of the property. Irs amended taxes Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Irs amended taxes It is important that you have records that will prove your deduction. Irs amended taxes If you do not have the actual records to support your deduction, you can use other satisfactory evidence to support it. Irs amended taxes Figuring a Loss Figure the amount of your loss using the following steps. Irs amended taxes Determine your adjusted basis in the property before the casualty or theft. Irs amended taxes Determine the decrease in fair market value of the property as a result of the casualty or theft. Irs amended taxes From the smaller of the amounts you determined in (1) and (2), subtract any insurance or other reimbursement you received or expect to receive. Irs amended taxes For personal-use property and property used in performing services as an employee, apply the deduction limits, discussed later, to determine the amount of your deductible loss. Irs amended taxes Gain from reimbursement. Irs amended taxes   If your reimbursement is more than your adjusted basis in the property, you have a gain. Irs amended taxes This is true even if the decrease in the FMV of the property is smaller than your adjusted basis. Irs amended taxes If you have a gain, you may have to pay tax on it, or you may be able to postpone reporting the gain. Irs amended taxes See Publication 547 for more information on how to treat a gain from a reimbursement for a casualty or theft. Irs amended taxes Leased property. Irs amended taxes   If you are liable for casualty damage to property you lease, your loss is the amount you must pay to repair the property minus any insurance or other reimbursement you receive or expect to receive. Irs amended taxes Decrease in Fair Market Value Fair market value (FMV) is the price for which you could sell your property to a willing buyer when neither of you has to sell or buy and both of you know all the relevant facts. Irs amended taxes The decrease in FMV used to figure the amount of a casualty or theft loss is the difference between the property's fair market value immediately before and immediately after the casualty or theft. Irs amended taxes FMV of stolen property. Irs amended taxes   The FMV of property immediately after a theft is considered to be zero, since you no longer have the property. Irs amended taxes Example. Irs amended taxes Several years ago, you purchased silver dollars at face value for $150. Irs amended taxes This is your adjusted basis in the property. Irs amended taxes Your silver dollars were stolen this year. Irs amended taxes The FMV of the coins was $1,000 just before they were stolen, and insurance did not cover them. Irs amended taxes Your theft loss is $150. Irs amended taxes Recovered stolen property. Irs amended taxes   Recovered stolen property is your property that was stolen and later returned to you. Irs amended taxes If you recovered property after you had already taken a theft loss deduction, you must refigure your loss using the smaller of the property's adjusted basis (explained later) or the decrease in FMV from the time just before it was stolen until the time it was recovered. Irs amended taxes Use this amount to refigure your total loss for the year in which the loss was deducted. Irs amended taxes   If your refigured loss is less than the loss you deducted, you generally have to report the difference as income in the recovery year. Irs amended taxes But report the difference only up to the amount of the loss that reduced your tax. Irs amended taxes For more information on the amount to report, see Recoveries in chapter 12. Irs amended taxes Figuring Decrease in FMV— Items To Consider To figure the decrease in FMV because of a casualty or theft, you generally need a competent appraisal. Irs amended taxes However, other measures can also be used to establish certain decreases. Irs amended taxes Appraisal. Irs amended taxes   An appraisal to determine the difference between the FMV of the property immediately before a casualty or theft and immediately afterward should be made by a competent appraiser. Irs amended taxes The appraiser must recognize the effects of any general market decline that may occur along with the casualty. Irs amended taxes This information is needed to limit any deduction to the actual loss resulting from damage to the property. Irs amended taxes   Several factors are important in evaluating the accuracy of an appraisal, including the following. Irs amended taxes The appraiser's familiarity with your property before and after the casualty or theft. Irs amended taxes The appraiser's knowledge of sales of comparable property in the area. Irs amended taxes The appraiser's knowledge of conditions in the area of the casualty. Irs amended taxes The appraiser's method of appraisal. Irs amended taxes    You may be able to use an appraisal that you used to get a federal loan (or a federal loan guarantee) as the result of a federally declared disaster to establish the amount of your disaster loss. Irs amended taxes For more information on disasters, see Disaster Area Losses, in Pub. Irs amended taxes 547. Irs amended taxes Cost of cleaning up or making repairs. Irs amended taxes   The cost of repairing damaged property is not part of a casualty loss. Irs amended taxes Neither is the cost of cleaning up after a casualty. Irs amended taxes But you can use the cost of cleaning up or making repairs after a casualty as a measure of the decrease in FMV if you meet all the following conditions. Irs amended taxes The repairs are actually made. Irs amended taxes The repairs are necessary to bring the property back to its condition before the casualty. Irs amended taxes The amount spent for repairs is not excessive. Irs amended taxes The repairs take care of the damage only. Irs amended taxes The value of the property after the repairs is not, due to the repairs, more than the value of the property before the casualty. Irs amended taxes Landscaping. Irs amended taxes   The cost of restoring landscaping to its original condition after a casualty may indicate the decrease in FMV. Irs amended taxes You may be able to measure your loss by what you spend on the following. Irs amended taxes Removing destroyed or damaged trees and shrubs minus any salvage you receive. Irs amended taxes Pruning and other measures taken to preserve damaged trees and shrubs. Irs amended taxes Replanting necessary to restore the property to its approximate value before the casualty. Irs amended taxes Car value. Irs amended taxes    Books issued by various automobile organizations that list your car may be useful in figuring the value of your car. Irs amended taxes You can use the book's retail values and modify them by such factors as mileage and the condition of your car to figure its value. Irs amended taxes The prices are not official, but they may be useful in determining value and suggesting relative prices for comparison with current sales and offerings in your area. Irs amended taxes If your car is not listed in the books, determine its value from other sources. Irs amended taxes A dealer's offer for your car as a trade-in on a new car is not usually a measure of its true value. Irs amended taxes Figuring Decrease in FMV— Items Not To Consider You generally should not consider the following items when attempting to establish the decrease in FMV of your property. Irs amended taxes Cost of protection. Irs amended taxes   The cost of protecting your property against a casualty or theft is not part of a casualty or theft loss. Irs amended taxes The amount you spend on insurance or to board up your house against a storm is not part of your loss. Irs amended taxes   If you make permanent improvements to your property to protect it against a casualty or theft, add the cost of these improvements to your basis in the property. Irs amended taxes An example would be the cost of a dike to prevent flooding. Irs amended taxes Exception. Irs amended taxes   You cannot increase your basis in the property by, or deduct as a business expense, any expenditures you made with respect to qualified disaster mitigation payments. Irs amended taxes See Disaster Area Losses in Publication 547. Irs amended taxes Incidental expenses. Irs amended taxes   Any incidental expenses you have due to a casualty or theft, such as expenses for the treatment of personal injuries, for temporary housing, or for a rental car, are not part of your casualty or theft loss. Irs amended taxes Replacement cost. Irs amended taxes   The cost of replacing stolen or destroyed property is not part of a casualty or theft loss. Irs amended taxes Sentimental value. Irs amended taxes   Do not consider sentimental value when determining your loss. Irs amended taxes If a family portrait, heirloom, or keepsake is damaged, destroyed, or stolen, you must base your loss on its FMV, as limited by your adjusted basis in the property. Irs amended taxes Decline in market value of property in or near casualty area. Irs amended taxes   A decrease in the value of your property because it is in or near an area that suffered a casualty, or that might again suffer a casualty, is not to be taken into consideration. Irs amended taxes You have a loss only for actual casualty damage to your property. Irs amended taxes However, if your home is in a federally declared disaster area, see Disaster Area Losses in Publication 547. Irs amended taxes Costs of photographs and appraisals. Irs amended taxes    Photographs taken after a casualty will be helpful in establishing the condition and value of the property after it was damaged. Irs amended taxes Photographs showing the condition of the property after it was repaired, restored, or replaced may also be helpful. Irs amended taxes    Appraisals are used to figure the decrease in FMV because of a casualty or theft. Irs amended taxes See Appraisal , earlier, under Figuring Decrease in FMV — Items To Consider, for information about appraisals. Irs amended taxes   The costs of photographs and appraisals used as evidence of the value and condition of property damaged as a result of a casualty are not a part of the loss. Irs amended taxes You can claim these costs as a miscellaneous itemized deduction subject to the 2%-of-adjusted-gross-income limit on Schedule A (Form 1040). Irs amended taxes For information about miscellaneous deductions, see chapter 28. Irs amended taxes Adjusted Basis Adjusted basis is your basis in the property (usually cost) increased or decreased by various events, such as improvements and casualty losses. Irs amended taxes For more information, see chapter 13. Irs amended taxes Insurance and Other Reimbursements If you receive an insurance payment or other type of reimbursement, you must subtract the reimbursement when you figure your loss. Irs amended taxes You do not have a casualty or theft loss to the extent you are reimbursed. Irs amended taxes If you expect to be reimbursed for part or all of your loss, you must subtract the expected reimbursement when you figure your loss. Irs amended taxes You must reduce your loss even if you do not receive payment until a later tax year. Irs amended taxes See Reimbursement Received After Deducting Loss , later. Irs amended taxes Failure to file a claim for reimbursement. Irs amended taxes   If your property is covered by insurance, you must file a timely insurance claim for reimbursement of your loss. Irs amended taxes Otherwise, you cannot deduct this loss as a casualty or theft loss. Irs amended taxes However, this rule does not apply to the portion of the loss not covered by insurance (for example, a deductible). Irs amended taxes Example. Irs amended taxes You have a car insurance policy with a $1,000 deductible. Irs amended taxes Because your insurance did not cover the first $1,000 of an auto collision, the $1,000 would be deductible (subject to the deduction limits discussed later). Irs amended taxes This is true even if you do not file an insurance claim, because your insurance policy would never have reimbursed you for the deductible. Irs amended taxes Types of Reimbursements The most common type of reimbursement is an insurance payment for your stolen or damaged property. Irs amended taxes Other types of reimbursements are discussed next. Irs amended taxes Also see the Instructions for Form 4684. Irs amended taxes Employer's emergency disaster fund. Irs amended taxes   If you receive money from your employer's emergency disaster fund and you must use that money to rehabilitate or replace property on which you are claiming a casualty loss deduction, you must take that money into consideration in computing the casualty loss deduction. Irs amended taxes Take into consideration only the amount you used to replace your destroyed or damaged property. Irs amended taxes Example. Irs amended taxes Your home was extensively damaged by a tornado. Irs amended taxes Your loss after reimbursement from your insurance company was $10,000. Irs amended taxes Your employer set up a disaster relief fund for its employees. Irs amended taxes Employees receiving money from the fund had to use it to rehabilitate or replace their damaged or destroyed property. Irs amended taxes You received $4,000 from the fund and spent the entire amount on repairs to your home. Irs amended taxes In figuring your casualty loss, you must reduce your unreimbursed loss ($10,000) by the $4,000 you received from your employer's fund. Irs amended taxes Your casualty loss before applying the deduction limits discussed later is $6,000. Irs amended taxes Cash gifts. Irs amended taxes   If you receive excludable cash gifts as a disaster victim and there are no limits on how you can use the money, you do not reduce your casualty loss by these excludable cash gifts. Irs amended taxes This applies even if you use the money to pay for repairs to property damaged in the disaster. Irs amended taxes Example. Irs amended taxes Your home was damaged by a hurricane. Irs amended taxes Relatives and neighbors made cash gifts to you that were excludable from your income. Irs amended taxes You used part of the cash gifts to pay for repairs to your home. Irs amended taxes There were no limits or restrictions on how you could use the cash gifts. Irs amended taxes Because it was an excludable gift, the money you received and used to pay for repairs to your home does not reduce your casualty loss on the damaged home. Irs amended taxes Insurance payments for living expenses. Irs amended taxes   You do not reduce your casualty loss by insurance payments you receive to cover living expenses in either of the following situations. Irs amended taxes You lose the use of your main home because of a casualty. Irs amended taxes Government authorities do not allow you access to your main home because of a casualty or threat of one. Irs amended taxes Inclusion in income. Irs amended taxes   If these insurance payments are more than the temporary increase in your living expenses, you must include the excess in your income. Irs amended taxes Report this amount on Form 1040, line 21. Irs amended taxes However, if the casualty occurs in a federally declared disaster area, none of the insurance payments are taxable. Irs amended taxes See Qualified disaster relief payments, under Disaster Area Losses in Publication 547. Irs amended taxes   A temporary increase in your living expenses is the difference between the actual living expenses you and your family incurred during the period you could not use your home and your normal living expenses for that period. Irs amended taxes Actual living expenses are the reasonable and necessary expenses incurred because of the loss of your main home. Irs amended taxes Generally, these expenses include the amounts you pay for the following. Irs amended taxes Rent for suitable housing. Irs amended taxes Transportation. Irs amended taxes Food. Irs amended taxes Utilities. Irs amended taxes Miscellaneous services. Irs amended taxes Normal living expenses consist of these same expenses that you would have incurred but did not because of the casualty or the threat of one. Irs amended taxes Example. Irs amended taxes As a result of a fire, you vacated your apartment for a month and moved to a motel. Irs amended taxes You normally pay $525 a month for rent. Irs amended taxes None was charged for the month the apartment was vacated. Irs amended taxes Your motel rent for this month was $1,200. Irs amended taxes You normally pay $200 a month for food. Irs amended taxes Your food expenses for the month you lived in the motel were $400. Irs amended taxes You received $1,100 from your insurance company to cover your living expenses. Irs amended taxes You determine the payment you must include in income as follows. Irs amended taxes 1) Insurance payment for living expenses $1,100 2) Actual expenses during the month you are unable to use your home because of fire 1,600   3) Normal living expenses 725   4) Temporary increase in living  expenses: Subtract line 3 from line 2 875 5) Amount of payment includible  in income: Subtract line 4  from line 1 $ 225 Tax year of inclusion. Irs amended taxes   You include the taxable part of the insurance payment in income for the year you regain the use of your main home or, if later, for the year you receive the taxable part of the insurance payment. Irs amended taxes Example. Irs amended taxes Your main home was destroyed by a tornado in August 2011. Irs amended taxes You regained use of your home in November 2012. Irs amended taxes The insurance payments you received in 2011 and 2012 were $1,500 more than the temporary increase in your living expenses during those years. Irs amended taxes You include this amount in income on your 2012 Form 1040. Irs amended taxes If, in 2013, you receive further payments to cover the living expenses you had in 2011 and 2012, you must include those payments in income on your 2013 Form 1040. Irs amended taxes Disaster relief. Irs amended taxes   Food, medical supplies, and other forms of assistance you receive do not reduce your casualty loss unless they are replacements for lost or destroyed property. Irs amended taxes Qualified disaster relief payments you receive for expenses you incurred as a result of a federally declared disaster are not taxable income to you. Irs amended taxes For more information, see Disaster Area Losses in Publication 547. Irs amended taxes Disaster unemployment assistance payments are unemployment benefits that are taxable. Irs amended taxes Generally, disaster relief grants and qualified disaster mitigation payments made under the Robert T. Irs amended taxes Stafford Disaster Relief and Emergency Assistance Act or the National Flood Insurance Act (as in effect on April 15, 2005) are not includible in your income. Irs amended taxes See Disaster Area Losses in Publication 547. Irs amended taxes Reimbursement Received After Deducting Loss If you figured your casualty or theft loss using your expected reimbursement, you may have to adjust your tax return for the tax year in which you receive your actual reimbursement. Irs amended taxes This section explains the adjustment you may have to make. Irs amended taxes Actual reimbursement less than expected. Irs amended taxes   If you later receive less reimbursement than you expected, include that difference as a loss with your other losses (if any) on your return for the year in which you can reasonably expect no more reimbursement. Irs amended taxes Example. Irs amended taxes Your personal car had an FMV of $2,000 when it was destroyed in a collision with another car in 2012. Irs amended taxes The accident was due to the negligence of the other driver. Irs amended taxes At the end of 2012, there was a reasonable prospect that the owner of the other car would reimburse you in full. Irs amended taxes You did not have a deductible loss in 2012. Irs amended taxes In January 2013, the court awarded you a judgment of $2,000. Irs amended taxes However, in July it became apparent that you will be unable to collect any amount from the other driver. Irs amended taxes You can deduct the loss in 2013 subject to the limits discussed later. Irs amended taxes Actual reimbursement more than expected. Irs amended taxes   If you later receive more reimbursement than you expected after you claimed a deduction for the loss, you may have to include the extra reimbursement in your income for the year you receive it. Irs amended taxes However, if any part of the original deduction did not reduce your tax for the earlier year, do not include that part of the reimbursement in your income. Irs amended taxes You do not refigure your tax for the year you claimed the deduction. Irs amended taxes For more information, see Recoveries in chapter 12. Irs amended taxes If the total of all the reimbursements you receive is more than your adjusted basis in the destroyed or stolen property, you will have a gain on the casualty or theft. Irs amended taxes If you have already taken a deduction for a loss and you receive the reimbursement in a later year, you may have to include the gain in your income for the later year. Irs amended taxes Include the gain as ordinary income up to the amount of your deduction that reduced your tax for the earlier year. Irs amended taxes See Figuring a Gain in Publication 547 for more information on how to treat a gain from the reimbursement of a casualty or theft. Irs amended taxes Actual reimbursement same as expected. Irs amended taxes   If you receive exactly the reimbursement you expected to receive, you do not have to include any of the reimbursement in your income and you cannot deduct any additional loss. Irs amended taxes Example. Irs amended taxes In December 2013, you had a collision while driving your personal car. Irs amended taxes Repairs to the car cost $950. Irs amended taxes You had $100 deductible collision insurance. Irs amended taxes Your insurance company agreed to reimburse you for the rest of the damage. Irs amended taxes Because you expected a reimbursement from the insurance company, you did not have a casualty loss deduction in 2013. Irs amended taxes Due to the $100 rule (discussed later under Deduction Limits ), you cannot deduct the $100 you paid as the deductible. Irs amended taxes When you receive the $850 from the insurance company in 2014, do not report it as income. Irs amended taxes Single Casualty on Multiple Properties Personal property. Irs amended taxes   Personal property is any property that is not real property. Irs amended taxes If your personal property is stolen or is damaged or destroyed by a casualty, you must figure your loss separately for each item of property. Irs amended taxes Then combine these separate losses to figure the total loss from that casualty or theft. Irs amended taxes Example. Irs amended taxes A fire in your home destroyed an upholstered chair, an oriental rug, and an antique table. Irs amended taxes You did not have fire insurance to cover your loss. Irs amended taxes (This was the only casualty or theft you had during the year. Irs amended taxes ) You paid $750 for the chair and you established that it had an FMV of $500 just before the fire. Irs amended taxes The rug cost $3,000 and had an FMV of $2,500 just before the fire. Irs amended taxes You bought the table at an auction for $100 before discovering it was an antique. Irs amended taxes It had been appraised at $900 before the fire. Irs amended taxes You figure your loss on each of these items as follows:     Chair Rug Table 1) Basis (cost) $750 $3,000 $100 2) FMV before fire $500 $2,500 $900 3) FMV after fire –0– –0– –0– 4) Decrease in FMV $500 $2,500 $900 5) Loss (smaller of (1) or  (4)) $500 $2,500 $100           6) Total loss     $3,100 Real property. Irs amended taxes   In figuring a casualty loss on personal-use real property, treat the entire property (including any improvements, such as buildings, trees, and shrubs) as one item. Irs amended taxes Figure the loss using the smaller of the adjusted basis or the decrease in FMV of the entire property. Irs amended taxes Example. Irs amended taxes You bought your home a few years ago. Irs amended taxes You paid $160,000 ($20,000 for the land and $140,000 for the house). Irs amended taxes You also spent $2,000 for landscaping. Irs amended taxes This year a fire destroyed your home. Irs amended taxes The fire also damaged the shrubbery and trees in your yard. Irs amended taxes The fire was your only casualty or theft loss this year. Irs amended taxes Competent appraisers valued the property as a whole at $200,000 before the fire, but only $30,000 after the fire. Irs amended taxes (The loss to your household furnishings is not shown in this example. Irs amended taxes It would be figured separately on each item, as explained earlier under Personal property . Irs amended taxes ) Shortly after the fire, the insurance company paid you $155,000 for the loss. Irs amended taxes You figure your casualty loss as follows: 1) Adjusted basis of the entire property (land, building, and landscaping) $162,000 2) FMV of entire property before fire $200,000 3) FMV of entire property after fire 30,000 4) Decrease in FMV of entire  property $170,000 5) Loss (smaller of (1) or (4)) $162,000 6) Subtract insurance 155,000 7) Amount of loss after reimbursement $7,000 Deduction Limits After you have figured your casualty or theft loss, you must figure how much of the loss you can deduct. Irs amended taxes If the loss was to property for your personal use or your family's use, there are two limits on the amount you can deduct for your casualty or theft loss. Irs amended taxes You must reduce each casualty or theft loss by $100 ($100 rule). Irs amended taxes You must further reduce the total of all your casualty or theft losses by 10% of your adjusted gross income (10% rule). Irs amended taxes You make these reductions on Form 4684. Irs amended taxes These rules are explained next and Table 25-1 summarizes how to apply the $100 rule and the 10% rule in various situations. Irs amended taxes For more detailed explanations and examples, see Publication 547. Irs amended taxes Table 25-1. Irs amended taxes How To Apply the Deduction Limits for Personal-Use Property   $100 Rule 10% Rule General Application You must reduce each casualty or theft loss by $100 when figuring your deduction. Irs amended taxes Apply this rule after you have figured the amount of your loss. Irs amended taxes You must reduce your total casualty or theft loss by 10% of your adjusted gross income. Irs amended taxes Apply this rule after you reduce each loss by $100 (the $100 rule). Irs amended taxes Single Event Apply this rule only once, even if many pieces of property are affected. Irs amended taxes Apply this rule only once, even if many pieces of property are affected. Irs amended taxes More Than One Event Apply to the loss from each event. Irs amended taxes Apply to the total of all your losses from all events. Irs amended taxes More Than One Person— With Loss From the Same Event (other than a married couple filing jointly) Apply separately to each person. Irs amended taxes Apply separately to each person. Irs amended taxes Married Couple—With Loss From the Same Event Filing Jointly Apply as if you were one person. Irs amended taxes Apply as if you were one person. Irs amended taxes Filing Separately Apply separately to each spouse. Irs amended taxes Apply separately to each spouse. Irs amended taxes More Than One Owner (other than a married couple filing jointly) Apply separately to each owner of jointly owned property. Irs amended taxes Apply separately to each owner of jointly owned property. Irs amended taxes Property used partly for business and partly for personal purposes. Irs amended taxes   When property is used partly for personal purposes and partly for business or income-producing purposes, the casualty or theft loss deduction must be figured separately for the personal-use part and for the business or income-producing part. Irs amended taxes You must figure each loss separately because the $100 rule and the 10% rule apply only to the loss on the personal-use part of the property. Irs amended taxes $100 Rule After you have figured your casualty or theft loss on personal-use property, you must reduce that loss by $100. Irs amended taxes This reduction applies to each total casualty or theft loss. Irs amended taxes It does not matter how many pieces of property are involved in an event. Irs amended taxes Only a single $100 reduction applies. Irs amended taxes Example. Irs amended taxes A hailstorm damages your home and your car. Irs amended taxes Determine the amount of loss, as discussed earlier, for each of these items. Irs amended taxes Since the losses are due to a single event, you combine the losses and reduce the combined amount by $100. Irs amended taxes Single event. Irs amended taxes   Generally, events closely related in origin cause a single casualty. Irs amended taxes It is a single casualty when the damage is from two or more closely related causes, such as wind and flood damage caused by the same storm. Irs amended taxes 10% Rule You must reduce the total of all your casualty or theft losses on personal-use property by 10% of your adjusted gross income. Irs amended taxes Apply this rule after you reduce each loss by $100. Irs amended taxes For more information, see the Form 4684 instructions. Irs amended taxes If you have both gains and losses from casualties or thefts, see Gains and losses , later in this discussion. Irs amended taxes Example 1. Irs amended taxes In June, you discovered that your house had been burglarized. Irs amended taxes Your loss after insurance reimbursement was $2,000. Irs amended taxes Your adjusted gross income for the year you discovered the theft is $29,500. Irs amended taxes You first apply the $100 rule and then the 10% rule. Irs amended taxes Figure your theft loss deduction as follows. Irs amended taxes 1) Loss after insurance $2,000 2) Subtract $100 100 3) Loss after $100 rule $1,900 4) Subtract 10% × $29,500 AGI 2,950 5) Theft loss deduction –0– You do not have a theft loss deduction because your loss after you apply the $100 rule ($1,900) is less than 10% of your adjusted gross income ($2,950). Irs amended taxes Example 2. Irs amended taxes In March, you had a car accident that totally destroyed your car. Irs amended taxes You did not have collision insurance on your car, so you did not receive any insurance reimbursement. Irs amended taxes Your loss on the car was $1,800. Irs amended taxes In November, a fire damaged your basement and totally destroyed the furniture, washer, dryer, and other items stored there. Irs amended taxes Your loss on the basement items after reimbursement was $2,100. Irs amended taxes Your adjusted gross income for the year that the accident and fire occurred is $25,000. Irs amended taxes You figure your casualty loss deduction as follows. Irs amended taxes       Base-     Car ment 1) Loss $1,800 $2,100 2) Subtract $100 per incident 100 100 3) Loss after $100 rule $1,700 $2,000 4) Total loss $3,700 5) Subtract 10% × $25,000 AGI 2,500 6) Casualty loss deduction $1,200 Gains and losses. Irs amended taxes   If you had both gains and losses from casualties or thefts to personal-use property, you must compare your total gains to your total losses. Irs amended taxes Do this after you have reduced each loss by any reimbursements and by $100, but before you have reduced the losses by 10% of your adjusted gross income. Irs amended taxes Casualty or theft gains do not include gains you choose to postpone. Irs amended taxes See Publication 547 for information on the postponement of gain. Irs amended taxes Losses more than gains. Irs amended taxes   If your losses are more than your recognized gains, subtract your gains from your losses and reduce the result by 10% of your adjusted gross income. Irs amended taxes The rest, if any, is your deductible loss from personal-use property. Irs amended taxes Gains more than losses. Irs amended taxes   If your recognized gains are more than your losses, subtract your losses from your gains. Irs amended taxes The difference is treated as capital gain and must be reported on Schedule D (Form 1040). Irs amended taxes The 10% rule does not apply to your gains. Irs amended taxes When To Report Gains and Losses Gains. Irs amended taxes   If you receive an insurance or other reimbursement that is more than your adjusted basis in the destroyed or stolen property, you have a gain from the casualty or theft. Irs amended taxes You must include this gain in your income in the year you receive the reimbursement, unless you choose to postpone reporting the gain as explained in Publication 547. Irs amended taxes If you have a loss, see Table 25-2 . Irs amended taxes Table 25-2. Irs amended taxes When To Deduct a Loss IF you have a loss. Irs amended taxes . Irs amended taxes . Irs amended taxes THEN deduct it in the year. Irs amended taxes . Irs amended taxes . Irs amended taxes from a casualty, the loss occurred. Irs amended taxes in a federally declared disaster area, the disaster occurred or the year immediately before the disaster. Irs amended taxes from a theft, the theft was discovered. Irs amended taxes on a deposit treated as a:   • casualty or any ordinary loss, a reasonable estimate can be made. Irs amended taxes • bad debt, deposits are totally worthless. Irs amended taxes Losses. Irs amended taxes   Generally, you can deduct a casualty loss that is not reimbursable only in the tax year in which the casualty occurred. Irs amended taxes This is true even if you do not repair or replace the damaged property until a later year. Irs amended taxes   You can deduct theft losses that are not reimbursable only in the year you discover your property was stolen. Irs amended taxes   If you are not sure whether part of your casualty or theft loss will be reimbursed, do not deduct that part until the tax year when you become reasonably certain that it will not be reimbursed. Irs amended taxes Loss on deposits. Irs amended taxes   If your loss is a loss on deposits in an insolvent or bankrupt financial institution, see Loss on Deposits , earlier. Irs amended taxes Disaster Area Loss You generally must deduct a casualty loss in the year it occurred. Irs amended taxes However, if you have a casualty loss from a federally declared disaster that occurred in an area warranting public or individual assistance (or both), you can choose to deduct the loss on your tax return or amended return for either of the following years. Irs amended taxes The year the disaster occurred. Irs amended taxes The year immediately preceding the year the disaster occurred. Irs amended taxes Gains. Irs amended taxes    Special rules apply if you choose to postpone reporting gain on property damaged or destroyed in a federally declared disaster area. Irs amended taxes For those special rules, see Publication 547. Irs amended taxes Postponed tax deadlines. Irs amended taxes   The IRS may postpone for up to 1 year certain tax deadlines of taxpayers who are affected by a federally declared disaster. Irs amended taxes The tax deadlines the IRS may postpone include those for filing income and employment tax returns, paying income and employment taxes, and making contributions to a traditional IRA or Roth IRA. Irs amended taxes   If any tax deadline is postponed, the IRS will publicize the postponement in your area by publishing a news release, revenue ruling, revenue procedure, notice, announcement, or other guidance in the Internal Revenue Bulletin (IRB). Irs amended taxes Go to www. Irs amended taxes irs. Irs amended taxes gov/uac/Tax-Relief-in-Disaster-Situations to find out if a tax deadline has been postponed for your area. Irs amended taxes Who is eligible. Irs amended taxes   If the IRS postpones a tax deadline, the following taxpayers are eligible for the postponement. Irs amended taxes Any individual whose main home is located in a covered disaster area (defined next). Irs amended taxes Any business entity or sole proprietor whose principal place of business is located in a covered disaster area. Irs amended taxes Any individual who is a relief worker affiliated with a recognized government or philanthropic organization who is assisting in a covered disaster area. Irs amended taxes Any individual, business entity, or sole proprietorship whose records are needed to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. Irs amended taxes The main home or principal place of business does not have to be located in the covered disaster area. Irs amended taxes Any estate or trust that has tax records necessary to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. Irs amended taxes The spouse on a joint return with a taxpayer who is eligible for postponements. Irs amended taxes Any individual, business entity, or sole proprietorship not located in a covered disaster area, but whose records necessary to meet a postponed tax deadline are located in the covered disaster area. Irs amended taxes Any individual visiting the covered disaster area who was killed or injured as a result of the disaster. Irs amended taxes Any other person determined by the IRS to be affected by a federally declared disaster. Irs amended taxes Covered disaster area. Irs amended taxes   This is an area of a federally declared disaster in which the IRS has decided to postpone tax deadlines for up to 1 year. Irs amended taxes Abatement of interest and penalties. Irs amended taxes   The IRS may abate the interest and penalties on underpaid income tax for the length of any postponement of tax deadlines. Irs amended taxes More information. Irs amended taxes   For more information, see Disaster Area Losses in Publication 547. Irs amended taxes How To Report Gains and Losses Use Form 4684 to report a gain or a deductible loss from a casualty or theft. Irs amended taxes If you have more than one casualty or theft, use a separate Form 4684 to determine your gain or loss for each event. Irs amended taxes Combine the gains and losses on one Form 4684. Irs amended taxes Follow the form instructions as to which lines to fill out. Irs amended taxes In addition, you must use the appropriate schedule to report a gain or loss. Irs amended taxes The schedule you use depends on whether you have a gain or loss. Irs amended taxes If you have a: Report it on: Gain Schedule D (Form 1040) Loss Schedule A (Form 1040) Adjustments to basis. Irs amended taxes   If you have a casualty or theft loss, you must decrease your basis in the property by any insurance or other reimbursement you receive, and by any deductible loss. Irs amended taxes Amounts you spend to restore your property after a casualty increase your adjusted basis. Irs amended taxes See Adjusted Basis in chapter 13 for more information. Irs amended taxes Net operating loss (NOL). Irs amended taxes    If your casualty or theft loss deduction causes your deductions for the year to be more than your income for the year, you may have an NOL. Irs amended taxes You can use an NOL to lower your tax in an earlier year, allowing you to get a refund for tax you have already paid. Irs amended taxes Or, you can use it to lower your tax in a later year. Irs amended taxes You do not have to be in business to have an NOL from a casualty or theft loss. Irs amended taxes For more information, see Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts. Irs amended taxes Prev  Up  Next   Home   More Online Publications