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Help Center  >  Individuals  >  Preparing Your Return  >  Special Situations

Individuals – Form 4684 – Casualty and Theft

Personal casualty losses attributable to certain qualified disasters may be claimed as a qualified disaster loss on Form 4684 for the year the loss was sustained. See the current Instructions for Form 4684 and IRS Publication 547 for the definition of a qualified disaster loss and the disasters that qualify.

If you have a casualty loss from a disaster that occurred in an area declared by the President to be a federal disaster area, refer to IRS Publication 547 for more information. In the case of a federally declared disaster, an affected taxpayer can call 1-866-562-5227 to speak with an IRS specialist trained to handle disaster-related issues. For additional information, refer to the IRS.gov has the Latest Information for Taxpayers in Disaster Areas website.

See the IRS Instructions for Schedule A for more information about Casualty and Theft Losses.

The TaxAct program uses Form 4684 to figure the amount of your loss and transfers the information to Schedule A (Form 1040) Itemized Deductions, Line 15. To review or modify entries for disasters, theft, & other property loss or damage in the TaxAct program, follow the steps below.

TaxAct Online

Dashboard
  1. From within your TaxAct return, click Deductions & Credits.
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
  2. Click the Other Deductions & Credits drop-down.
  3. Click Add beside Disasters, theft, & other property loss or damage. 
  4. Complete the rest of the interview process. 
Classic
  1. From within your TaxAct return, click Federal. 
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
  2. Click the Itemized or Standard Deductions drop-down, then click Casualty or theft losses.
  3. Complete the rest of the interview process. 
TaxAct will use the higher of your Itemized Deductions or the Standard Deduction for your filing status to maximize the tax benefit to you. If you do not itemize deductions, you cannot take the casualty and theft deduction and Form 4684, Casualties and Thefts, will not print with your return; however, you can print just that form to review the calculations if you wish.

Losses You Can Deduct for Tax Years 2018 through 2025

For tax years 2018 through 2025, individuals generally may deduct personal casualty and theft losses only if the losses are attributable to a federally declared disaster. Deductible personal casualty losses are generally reduced by $100 per casualty event and by 10% of the taxpayer’s adjusted gross income (AGI), subject to certain exceptions for qualified disaster losses

If you are an individual, losses of personal-use property from fire, storm, shipwreck, other casualty, or theft generally are deductible only if the loss is attributable to a federally declared disaster (a federal casualty loss). See IRS Publication 547, Casualties, Disasters, and Thefts, for more information. For losses sustained after 2017 and before 2026, personal casualty and theft losses that are not attributable to a federally declared disaster generally are not deductible. If the event causing a personal casualty loss occurred before January 1, 2018, but the loss was not sustained until January 1, 2018, or later, the loss generally is not deductible. Publication 547 discusses special rules that may apply to losses resulting from theft, vandalism, fire, storms, accidents, corrosive drywall, and certain financial losses.