Casualties, thefts and disasters go on Form 4684.
The casualty loss is generally the lesser of:
- The decrease in FMV of the property due to the casualty.
- Your adjusted basis in the property.
Some things to help with the form.
You can use the year of the disaster or the year before. Choose which year gives you the better refund.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
