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LJA
Returning Member

They cant answer where to attach a statment required for form 4684 online filing done already! Wasted hours explaining to 4 people!

Well, did my taxes online and filed, then read in publication, pg 7 that it needs a statement indicating which method was used for ...    TT let me complete my return, it added the form, NEVER WARNED ME THAT IT SHOULD NOT BE SENT WITHOUT THE STATEMENT ATTACHMENT.    Called support, Tier one for 1.5 hours, transferred me to Tier 2 for 2 hours,  who said he was transferring me to a CPA.   Instead he transferred me to TIER 1.  Two more hours and she said she would call me back after a team meeting and would have an answer.  Now a day later, no call back.   Lousy support, they dont know the answer and dont have someone they can ask!    Now I will likely be audited as I did not include the required attached statement for the FORM that TT prepared for me!   Makes no sense!  Paid like 240.  and now have issues and no help!   Does anyone know the answer?  Should I print out my return and send it in with the required attachment, and not worry that it will confuse the IRS getting TWO filings, one online and the other in the mail?  I dont want to muddy this up and more than it is.  

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3 Replies
MaryK4
Expert Alumni

They cant answer where to attach a statment required for form 4684 online filing done already! Wasted hours explaining to 4 people!

Which specific statement are you talking about? The Form 4684 has some of the statements incorporated in the form.   

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LJA
Returning Member

They cant answer where to attach a statment required for form 4684 online filing done already! Wasted hours explaining to 4 people!

The irs  publication says that you must state which method you used to calculate your loss.  There are about 5 options. It says to attach a statement stating which method was used.  Turbotax screens never asked for that so it did not get put on the form itself and there is no way to attach. So it did not allow me to follow directions. Thx

DMarkM1
Expert Alumni

They cant answer where to attach a statment required for form 4684 online filing done already! Wasted hours explaining to 4 people!

You are correct TurboTax does not handle a safe harbor election for the Fair Market Value of a personal use residence or personal belongings loss due to a federally declared disaster.  Not attaching a statement does not preclude you from using a safe harbor method.  TurboTax asked you to provide a FMV before the loss and after the loss per item.  Assuming you have the supporting documentation for those numbers you are good to go.  Just show them if ever asked. 

 

The safe harbor methods generally allow you to aggregate the decreased FMV for your personal residence property (all buildings and grounds) as one item.  The same opportunity exists for all of your personal belongings. You could do that instead of separate entries for each item.    

 

Next, not having an election statement attached does not mean your return will be audited.  On the flip side, a return with a safe harbor election may still be audited and still must show the safe harbor supporting documents. The safe harbor election statement only says the IRS will not challenge the FMV calculation if one of the safe harbor methods is used.  The taxpayer still must have/show the substantiation documents for the method used.

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