Form 4684 Casualties and Theft

2008 Form 4684, Casualties and Thefts
Purpose: This is the first circulated draft of the 2008 Form 4684 for your review and
comments.
TPCC Meeting: None, but one can be arranged if requested.
Prior Revisions: The 2007 Form 4684 can be viewed by clicking on the following link:
http://core.publish.no.irs.gov/forms/public/pdf/12997y07.pdf
Other Products: Circulations of draft tax forms, instructions, notices, and publications
are posted at: http://taxforms.web.irs.gov/draft_products.html
Comments: Please email, fax, call, or mail any comments by May 27, 2008.

Changes to 2008 Form 4684
*All years were updated

FROM:

Email:

Phone:

Robyn Magruder-Matthews

robyn.t.magruder-matthews@irs.gov

202-283-3725
Fax:

202-283-4544

Room:

Date:
04/30/2008

NCFB
C-347

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Form

I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
FORM 4684, PAGE 1 of 2
MARGINS: TOP 13mm (1⁄ 2 "), CENTER SIDES.
PRINTS: HEAD TO HEAD
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
FLAT SIZE: 216mm (81⁄ 2 )" 3 279mm (11")
PERFORATE: (NONE)
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

4684

Department of the Treasury
Internal Revenue Service

Action

Date

O.K. to print
Revised proofs
requested

OMB No. 1545-0177

Casualties and Thefts

2008

©

See separate instructions.
Attach to your tax return.
Use a separate Form 4684 for each casualty or theft.

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©

©

Name(s) shown on tax return

Signature

Attachment
Sequence No.
Identifying number

26

SECTION A—Personal Use Property (Use this section to report casualties and thefts of property not used in a trade
or business or for income-producing purposes.)
1

Description of properties (show type, location, and date acquired for each property). Use a separate line for each property lost or damaged
from the same casualty or theft.
Property A
Property B
Property C
Property D

Properties

A

2

Cost or other basis of each property

3

Insurance or other reimbursement (whether or not
you filed a claim) (see instructions)

B

C

D

2
3

Note: If line 2 is more than line 3, skip line 4.
4

Gain from casualty or theft. If line 3 is more than line
2, enter the difference here and skip lines 5 through 9
for that column. See instructions if line 3 includes insurance or other reimbursement you did not claim, or
you received payment for your loss in a later tax year

4

5

Fair market value before casualty or theft

5

6

Fair market value after casualty or theft

6

7

Subtract line 6 from line 5

7

8

Enter the smaller of line 2 or line 7

8

9

Subtract line 3 from line 8. If zero or less,
enter -0-

9

10

Casualty or theft loss. Add the amounts on line 9 in columns A through D

10

11

Enter the smaller of line 10 or $100

11

12

Subtract line 11 from line 10

12

Caution: Use only one Form 4684 for lines 13 through 18.
13

Add the amounts on line 12 of all Forms 4684

13

14

Add the amounts on line 4 of all Forms 4684

14

15

● If line 14 is more than line 13, enter the difference here and on Schedule D. Do not
complete the rest of this section (see instructions).
● If line 14 is less than line 13, enter -0- here and go to line 16.
● If line 14 is equal to line 13, enter -0- here. Do not complete the rest of this section.

%

15

16

If line 14 is less than line 13, enter the difference

16

17

Enter 10% of your adjusted gross income from Form 1040, line 38, or Form 1040NR, line 36. Estates and
trusts, see instructions

17

Subtract line 17 from line 16. If zero or less, enter -0-. Also enter the result on Schedule A (Form 1040), line 20,
or Schedule A (Form 1040NR), line 8. Estates and trusts, enter the result on the “Other deductions” line of your
tax return

18

18

For Paperwork Reduction Act Notice, see page 4 of the instructions.

Cat. No. 12997O

Form

4684

(2008)

1
I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
FORM 4684, PAGE 2 of 2
MARGINS: TOP 13mm (1⁄ 2 "), CENTER SIDES. PRINTS: HEAD TO HEAD
PAPER: WHITE WRITING, SUB. 20. INK: BLACK
FLAT SIZE: 216mm (81⁄ 2 )" 3 279mm (11")
PERFORATE: (NONE)
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form 4684 (2008)

Page

Attachment Sequence No. 26
Name(s) shown on tax return. Do not enter name and identifying number if shown on other side.

2

Identifying number

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SECTION B—Business and Income-Producing Property
Part I Casualty or Theft Gain or Loss (Use a separate Part l for each casualty or theft.)
19

Description of properties (show type, location, and date acquired for each property). Use a separate line for each property lost or damaged from the same casualty or theft.
Property
Property
Property
Property

A
B
C
D

Properties

A

20

Cost or adjusted basis of each property

21

Insurance or other reimbursement (whether or not
you filed a claim). See the instructions for line 3
Note: If line 20 is more than line 21, skip line 22.
Gain from casualty or theft. If line 21 is more than line
20, enter the difference here and on line 29 or line 34,
column (c), except as provided in the instructions for
line 33. Also, skip lines 23 through 27 for that column.
See the instructions for line 4 if line 21 includes
insurance or other reimbursement you did not claim, or
you received payment for your loss in a later tax year

22

B

C

21

22
23

23
24

Fair market value before casualty or theft
Fair market value after casualty or theft

24

25

Subtract line 24 from line 23

25

26

26
Enter the smaller of line 20 or line 25
Note: If the property was totally destroyed by
casualty or lost from theft, enter on line 26 the
amount from line 20.
27
Subtract line 21 from line 26. If zero or less, enter -0Casualty or theft loss. Add the amounts on line 27. Enter the total here and on line 29 or line 34 (see instructions)

27
28

Part II

D

20

Summary of Gains and Losses (from separate Parts l)

28

(b) Losses from casualties or thefts
(i) Trade, business,
rental or royalty
property

(a) Identify casualty or theft

(c) Gains from
casualties or thefts
includible in income

(ii) Incomeproducing and
employee property

Casualty or Theft of Property Held One Year or Less
(
(
30 (

29

) (
) (
) (

30

Totals. Add the amounts on line 29

31

Combine line 30, columns (b)(i) and (c). Enter the net gain or (loss) here and on Form 4797, line 14. If Form 4797
is not otherwise required, see instructions
Enter the amount from line 30, column (b)(ii) here. Individuals, enter the amount from income-producing property
on Schedule A (Form 1040), line 28, or Schedule A (Form 1040NR), line 16, and enter the amount from property
used as an employee on Schedule A (Form 1040), line 23, or Schedule A (Form 1040NR), line 11. Estates and
trusts, partnerships, and S corporations, see instructions

32

)
)
)
31

32

Casualty or Theft of Property Held More Than One Year
33

33

Casualty or theft gains from Form 4797, line 32

34

(
(
35 (

) (
) (
) (

)
)
)

35
36

Total losses. Add amounts on line 34, columns (b)(i) and (b)(ii)
Total gains. Add lines 33 and 34, column (c)

37
38

Add amounts on line 35, columns (b)(i) and (b)(ii)
If the loss on line 37 is more than the gain on line 36:
Combine line 35, column (b)(i) and line 36, and enter the net gain or (loss) here. Partnerships (except electing large partnerships)
and S corporations, see the note below. All others, enter this amount on Form 4797, line 14. If Form 4797 is not otherwise
required, see instructions

38a

Enter the amount from line 35, column (b)(ii) here. Individuals, enter the amount from income-producing property
on Schedule A (Form 1040), line 28, or Schedule A (Form 1040NR), line 16, and enter the amount from property
used as an employee on Schedule A (Form 1040), line 23 or Schedule A (Form 1040NR), line 11. Estates and
trusts, enter on the “Other deductions” line of your tax return. Partnerships (except electing large partnerships)
and S corporations, see the note below. Electing large partnerships, enter on Form 1065-B, Part II, line 11

38b

If the loss on line 37 is less than or equal to the gain on line 36, combine lines 36 and 37 and enter here. Partnerships
(except electing large partnerships), see the note below. All others, enter this amount on Form 4797, line 3

39

a

b

39

36
37

Note: Partnerships, enter the amount from line 38a, 38b, or line 39 on Form 1065, Schedule K, line 11.
S corporations, enter the amount from line 38a or 38b on Form 1120S, Schedule K, line 10.
Printed on recycled paper

Form

4684

(2008)