Problem 5-19 Casualty and Theft Losses (LO 5.5)

Leann Moon has an apartment full of antique furniture. A fire in the apartment destroys a large part of her furnishings. The destroyed furnishings had a fair market value of $38,000, and Leann's original basis in the furnishings was $37,400. She recovers $16,500 from her insurance company. Leann's adjusted gross income for 2017 is $52,500.

Use page 1 of Form 4684 to report Leann's loss.

If an amount is "0", enter "0". Enter all amounts as positive numbers.

Form 4684 Department of the Treasury Internal Revenue Service

Casualties and Thefts Go to www.irs.gov/Form4684 for instructions and the latest information. Attach to your tax return. Use a separate Form 4684 for each casualty or theft.

OMB No. 1545-0177 2017 Attachment Sequence No. 26

Name(s) shown on tax return

Leann Moon

Identifying number

SECTION APersonal 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		B		C		D
2	Cost or other basis of each property	2
3	Insurance or other reimbursement (whether or not you filed a claim) (see instructions) . . . . . . . . . . . .	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 notcomplete the rest of this section (see instructions). . . . . . . . . . . . . . . . . . . . .					}	. . . .	15
	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.
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 37. Estates and trusts, see instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .							17
18	Subtract line 17 from line 16. If zero or less, enter -0-. Also enter the result on Schedule A (Form 1040), line 20, or Form 1040NR, Schedule A, line 6. Estates and trusts, enter the result on the "Other deductions" line of your tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .							18

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 129970

Form 4684 (2017)