RobertG
Expert Alumni

Investors & landlords

IRS Publications 544 and 547 do not contain specific examples of how to complete Form 4684 in your situation.

 

Under personal use property Publication 547 says Don’t report on these forms any gain you postpone. (Page 19).  Under business property it says Use Form 4684 to report your gains and losses. (Page 19)

 

Since you don't have a gain or a loss to report, You should either not include the 4684 at all, or if you include it, only report the casualty to the extent you were reimbursed.

 

Since your return includes the required statement of the postponement of the gain, the gain is fully disclosed.

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