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Where Can I File 2011 Taxes For Free

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Where Can I File 2011 Taxes For Free

Where can i file 2011 taxes for free 5. Where can i file 2011 taxes for free   How To Get Tax Help Table of Contents Low Income Taxpayer Clinics Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. Where can i file 2011 taxes for free Free help with your tax return. Where can i file 2011 taxes for free   You can get free help preparing your return nationwide from IRS-certified volunteers. Where can i file 2011 taxes for free The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. Where can i file 2011 taxes for free The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Where can i file 2011 taxes for free Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Where can i file 2011 taxes for free In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. Where can i file 2011 taxes for free To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. Where can i file 2011 taxes for free gov, download the IRS2Go app, or call 1-800-906-9887. Where can i file 2011 taxes for free   As part of the TCE program, AARP offers the Tax-Aide counseling program. Where can i file 2011 taxes for free To find the nearest AARP Tax-Aide site, visit AARP's website at www. Where can i file 2011 taxes for free aarp. Where can i file 2011 taxes for free org/money/taxaide or call 1-888-227-7669. Where can i file 2011 taxes for free For more information on these programs, go to IRS. Where can i file 2011 taxes for free gov and enter “VITA” in the search box. Where can i file 2011 taxes for free Internet. Where can i file 2011 taxes for free    IRS. Where can i file 2011 taxes for free gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. Where can i file 2011 taxes for free Download the free IRS2Go app from the iTunes app store or from Google Play. Where can i file 2011 taxes for free Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Where can i file 2011 taxes for free Check the status of your 2013 refund with the Where's My Refund? application on IRS. Where can i file 2011 taxes for free gov or download the IRS2Go app and select the Refund Status option. Where can i file 2011 taxes for free The IRS issues more than 9 out of 10 refunds in less than 21 days. Where can i file 2011 taxes for free Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. Where can i file 2011 taxes for free You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. Where can i file 2011 taxes for free The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Where can i file 2011 taxes for free Use the Interactive Tax Assistant (ITA) to research your tax questions. Where can i file 2011 taxes for free No need to wait on the phone or stand in line. Where can i file 2011 taxes for free The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. Where can i file 2011 taxes for free When you reach the response screen, you can print the entire interview and the final response for your records. Where can i file 2011 taxes for free New subject areas are added on a regular basis. Where can i file 2011 taxes for free  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. Where can i file 2011 taxes for free gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. Where can i file 2011 taxes for free You can use the IRS Tax Map, to search publications and instructions by topic or keyword. Where can i file 2011 taxes for free The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. Where can i file 2011 taxes for free When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. Where can i file 2011 taxes for free Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. Where can i file 2011 taxes for free You can also ask the IRS to mail a return or an account transcript to you. Where can i file 2011 taxes for free Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. Where can i file 2011 taxes for free gov or by calling 1-800-908-9946. Where can i file 2011 taxes for free Tax return and tax account transcripts are generally available for the current year and the past three years. Where can i file 2011 taxes for free Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. Where can i file 2011 taxes for free Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. Where can i file 2011 taxes for free If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. Where can i file 2011 taxes for free Check the status of your amended return using Where's My Amended Return? Go to IRS. Where can i file 2011 taxes for free gov and enter Where's My Amended Return? in the search box. Where can i file 2011 taxes for free You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Where can i file 2011 taxes for free It can take up to 3 weeks from the date you mailed it to show up in our system. Where can i file 2011 taxes for free Make a payment using one of several safe and convenient electronic payment options available on IRS. Where can i file 2011 taxes for free gov. Where can i file 2011 taxes for free Select the Payment tab on the front page of IRS. Where can i file 2011 taxes for free gov for more information. Where can i file 2011 taxes for free Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. Where can i file 2011 taxes for free Figure your income tax withholding with the IRS Withholding Calculator on IRS. Where can i file 2011 taxes for free gov. Where can i file 2011 taxes for free Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Where can i file 2011 taxes for free Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Where can i file 2011 taxes for free gov. Where can i file 2011 taxes for free Request an Electronic Filing PIN by going to IRS. Where can i file 2011 taxes for free gov and entering Electronic Filing PIN in the search box. Where can i file 2011 taxes for free Download forms, instructions and publications, including accessible versions for people with disabilities. Where can i file 2011 taxes for free Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. Where can i file 2011 taxes for free gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. Where can i file 2011 taxes for free An employee can answer questions about your tax account or help you set up a payment plan. Where can i file 2011 taxes for free Before you visit, check the Office Locator on IRS. Where can i file 2011 taxes for free gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. Where can i file 2011 taxes for free If you have a special need, such as a disability, you can request an appointment. Where can i file 2011 taxes for free Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Where can i file 2011 taxes for free Apply for an Employer Identification Number (EIN). Where can i file 2011 taxes for free Go to IRS. Where can i file 2011 taxes for free gov and enter Apply for an EIN in the search box. Where can i file 2011 taxes for free Read the Internal Revenue Code, regulations, or other official guidance. Where can i file 2011 taxes for free Read Internal Revenue Bulletins. Where can i file 2011 taxes for free Sign up to receive local and national tax news and more by email. Where can i file 2011 taxes for free Just click on “subscriptions” above the search box on IRS. Where can i file 2011 taxes for free gov and choose from a variety of options. Where can i file 2011 taxes for free    Phone. Where can i file 2011 taxes for free You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Where can i file 2011 taxes for free Download the free IRS2Go app from the iTunes app store or from Google Play. Where can i file 2011 taxes for free Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. Where can i file 2011 taxes for free gov, or download the IRS2Go app. Where can i file 2011 taxes for free Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Where can i file 2011 taxes for free The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Where can i file 2011 taxes for free Most VITA and TCE sites offer free electronic filing. Where can i file 2011 taxes for free Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Where can i file 2011 taxes for free Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Where can i file 2011 taxes for free Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. Where can i file 2011 taxes for free If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Where can i file 2011 taxes for free The IRS issues more than 9 out of 10 refunds in less than 21 days. Where can i file 2011 taxes for free Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Where can i file 2011 taxes for free Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Where can i file 2011 taxes for free The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Where can i file 2011 taxes for free Note, the above information is for our automated hotline. Where can i file 2011 taxes for free Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. Where can i file 2011 taxes for free Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Where can i file 2011 taxes for free You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Where can i file 2011 taxes for free It can take up to 3 weeks from the date you mailed it to show up in our system. Where can i file 2011 taxes for free Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). Where can i file 2011 taxes for free You should receive your order within 10 business days. Where can i file 2011 taxes for free Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. Where can i file 2011 taxes for free If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. Where can i file 2011 taxes for free Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Where can i file 2011 taxes for free The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Where can i file 2011 taxes for free These individuals can also contact the IRS through relay services such as the Federal Relay Service. Where can i file 2011 taxes for free    Walk-in. Where can i file 2011 taxes for free You can find a selection of forms, publications and services — in-person. Where can i file 2011 taxes for free Products. Where can i file 2011 taxes for free You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Where can i file 2011 taxes for free Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Where can i file 2011 taxes for free Services. Where can i file 2011 taxes for free You can walk in to your local TAC for face-to-face tax help. Where can i file 2011 taxes for free An employee can answer questions about your tax account or help you set up a payment plan. Where can i file 2011 taxes for free Before visiting, use the Office Locator tool on IRS. Where can i file 2011 taxes for free gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. Where can i file 2011 taxes for free    Mail. Where can i file 2011 taxes for free You can send your order for forms, instructions, and publications to the address below. Where can i file 2011 taxes for free You should receive a response within 10 business days after your request is received. Where can i file 2011 taxes for free Internal Revenue Service 1201 N. Where can i file 2011 taxes for free Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. Where can i file 2011 taxes for free The Taxpayer Advocate Service (TAS) is your voice at the IRS. Where can i file 2011 taxes for free Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Where can i file 2011 taxes for free   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. Where can i file 2011 taxes for free We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Where can i file 2011 taxes for free You face (or your business is facing) an immediate threat of adverse action. Where can i file 2011 taxes for free You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Where can i file 2011 taxes for free   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Where can i file 2011 taxes for free Here's why we can help: TAS is an independent organization within the IRS. Where can i file 2011 taxes for free Our advocates know how to work with the IRS. Where can i file 2011 taxes for free Our services are free and tailored to meet your needs. Where can i file 2011 taxes for free We have offices in every state, the District of Columbia, and Puerto Rico. Where can i file 2011 taxes for free   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. Where can i file 2011 taxes for free   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Where can i file 2011 taxes for free If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. Where can i file 2011 taxes for free Low Income Taxpayer Clinics Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. Where can i file 2011 taxes for free Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Where can i file 2011 taxes for free Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. Where can i file 2011 taxes for free Prev  Up  Next   Home   More Online Publications
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The Where Can I File 2011 Taxes For Free

Where can i file 2011 taxes for free Publication 547 - Main Content Table of Contents CasualtyFamily pet. Where can i file 2011 taxes for free Progressive deterioration. Where can i file 2011 taxes for free Special Procedure for Damage From Corrosive Drywall Theft Loss on Deposits Proof of Loss Figuring a LossGain from reimbursement. Where can i file 2011 taxes for free Business or income-producing property. Where can i file 2011 taxes for free Loss of inventory. Where can i file 2011 taxes for free Leased property. Where can i file 2011 taxes for free Exception for personal-use real property. Where can i file 2011 taxes for free Decrease in Fair Market Value Adjusted Basis Insurance and Other Reimbursements Deduction Limits2% Rule $100 Rule 10% Rule Figuring the Deduction Figuring a GainPostponement of Gain When To Report Gains and LossesLoss on deposits. Where can i file 2011 taxes for free Lessee's loss. Where can i file 2011 taxes for free Disaster Area LossesDisaster loss to inventory. Where can i file 2011 taxes for free Main home in disaster area. Where can i file 2011 taxes for free Unsafe home. Where can i file 2011 taxes for free Time limit for making choice. Where can i file 2011 taxes for free Revoking your choice. Where can i file 2011 taxes for free Figuring the loss deduction. Where can i file 2011 taxes for free How to report the loss on Form 1040X. Where can i file 2011 taxes for free Records. Where can i file 2011 taxes for free Need a copy of your tax return for the preceding year? Postponed Tax Deadlines Contacting the Federal Emergency Management Agency (FEMA) How To Report Gains and LossesProperty held 1 year or less. Where can i file 2011 taxes for free Property held more than 1 year. Where can i file 2011 taxes for free Depreciable property. Where can i file 2011 taxes for free Adjustments to Basis If Deductions Are More Than Income How To Get Tax HelpLow Income Taxpayer Clinics Casualty A casualty is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. Where can i file 2011 taxes for free A sudden event is one that is swift, not gradual or progressive. Where can i file 2011 taxes for free An unexpected event is one that is ordinarily unanticipated and unintended. Where can i file 2011 taxes for free An unusual event is one that is not a day-to-day occurrence and that is not typical of the activity in which you were engaged. Where can i file 2011 taxes for free Generally, casualty losses are deductible during the taxable year that the loss occurred. Where can i file 2011 taxes for free See Table 3, later. Where can i file 2011 taxes for free Deductible losses. Where can i file 2011 taxes for free   Deductible casualty losses can result from a number of different causes, including the following. Where can i file 2011 taxes for free Car accidents (but see Nondeductible losses , next, for exceptions). Where can i file 2011 taxes for free Earthquakes. Where can i file 2011 taxes for free Fires (but see Nondeductible losses , next, for exceptions). Where can i file 2011 taxes for free Floods. Where can i file 2011 taxes for free Government-ordered demolition or relocation of a home that is unsafe to use because of a disaster as discussed under Disaster Area Losses , later. Where can i file 2011 taxes for free Mine cave-ins. Where can i file 2011 taxes for free Shipwrecks. Where can i file 2011 taxes for free Sonic booms. Where can i file 2011 taxes for free Storms, including hurricanes and tornadoes. Where can i file 2011 taxes for free Terrorist attacks. Where can i file 2011 taxes for free Vandalism. Where can i file 2011 taxes for free Volcanic eruptions. Where can i file 2011 taxes for free Nondeductible losses. Where can i file 2011 taxes for free   A casualty loss is not deductible if the damage or destruction is caused by the following. Where can i file 2011 taxes for free Accidentally breaking articles such as glassware or china under normal conditions. Where can i file 2011 taxes for free A family pet (explained below). Where can i file 2011 taxes for free A fire if you willfully set it, or pay someone else to set it. Where can i file 2011 taxes for free A car accident if your willful negligence or willful act caused it. Where can i file 2011 taxes for free The same is true if the willful act or willful negligence of someone acting for you caused the accident. Where can i file 2011 taxes for free Progressive deterioration (explained below). Where can i file 2011 taxes for free However, see Special Procedure for Damage From Corrosive Drywall , later. Where can i file 2011 taxes for free Family pet. Where can i file 2011 taxes for free   Loss of property due to damage by a family pet is not deductible as a casualty loss unless the requirements discussed earlier under Casualty are met. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Your antique oriental rug was damaged by your new puppy before it was housebroken. Where can i file 2011 taxes for free Because the damage was not unexpected and unusual, the loss is not deductible as a casualty loss. Where can i file 2011 taxes for free Progressive deterioration. Where can i file 2011 taxes for free   Loss of property due to progressive deterioration is not deductible as a casualty loss. Where can i file 2011 taxes for free This is because the damage results from a steadily operating cause or a normal process, rather than from a sudden event. Where can i file 2011 taxes for free The following are examples of damage due to progressive deterioration. Where can i file 2011 taxes for free The steady weakening of a building due to normal wind and weather conditions. Where can i file 2011 taxes for free The deterioration and damage to a water heater that bursts. Where can i file 2011 taxes for free However, the rust and water damage to rugs and drapes caused by the bursting of a water heater does qualify as a casualty. Where can i file 2011 taxes for free Most losses of property caused by droughts. Where can i file 2011 taxes for free To be deductible, a drought-related loss generally must be incurred in a trade or business or in a transaction entered into for profit. Where can i file 2011 taxes for free Termite or moth damage. Where can i file 2011 taxes for free The damage or destruction of trees, shrubs, or other plants by a fungus, disease, insects, worms, or similar pests. Where can i file 2011 taxes for free However, a sudden destruction due to an unexpected or unusual infestation of beetles or other insects may result in a casualty loss. Where can i file 2011 taxes for free Special Procedure for Damage From Corrosive Drywall Under a special procedure, you can deduct the amounts you paid to repair damage to your home and household appliances due to corrosive drywall. Where can i file 2011 taxes for free Under this procedure, you treat the amounts paid for repairs as a casualty loss in the year of payment. Where can i file 2011 taxes for free For example, amounts you paid for repairs in 2013 are deductible on your 2013 tax return and amounts you paid for repairs in 2012 are deductible on your 2012 tax return. Where can i file 2011 taxes for free Note. Where can i file 2011 taxes for free If you paid for any repairs before 2013 and you choose to follow this special procedure, you can amend your return for the earlier year by filing Form 1040X, Amended U. Where can i file 2011 taxes for free S. Where can i file 2011 taxes for free Individual Income Tax Return, and attaching a completed Form 4684 for the appropriate year. Where can i file 2011 taxes for free Form 4684 for the appropriate year can be found at IRS. Where can i file 2011 taxes for free gov. Where can i file 2011 taxes for free Generally, Form 1040X must be filed within 3 years after the date the original return was filed or within 2 years after the date the tax was paid, whichever is later. Where can i file 2011 taxes for free Corrosive drywall. Where can i file 2011 taxes for free   For purposes of this special procedure, “corrosive drywall” means drywall that is identified as problem drywall under the two-step identification method published by the Consumer Product Safety Commission (CPSC) and the Department of Housing and Urban Development (HUD) in their interim guidance dated January 28, 2010, as revised by the CPSC and HUD. Where can i file 2011 taxes for free The revised identification guidance and remediation guidelines are available at www. Where can i file 2011 taxes for free cpsc. Where can i file 2011 taxes for free gov/Safety-Education/Safety-Education-Centers/Drywall. Where can i file 2011 taxes for free Special instructions for completing Form 4684. Where can i file 2011 taxes for free   If you choose to follow this special procedure, complete Form 4684, Section A, according to the instructions below. Where can i file 2011 taxes for free The IRS will not challenge your treatment of damage resulting from corrosive drywall as a casualty loss if you determine and report the loss as explained below. Where can i file 2011 taxes for free Top margin of Form 4684. Where can i file 2011 taxes for free   Enter “Revenue Procedure 2010-36”. Where can i file 2011 taxes for free Line 1. Where can i file 2011 taxes for free   Enter the information required by the line 1 instructions. Where can i file 2011 taxes for free Line 2. Where can i file 2011 taxes for free   Skip this line. Where can i file 2011 taxes for free Line 3. Where can i file 2011 taxes for free   Enter the amount of insurance or other reimbursements you received (including through litigation). Where can i file 2011 taxes for free If none, enter -0-. Where can i file 2011 taxes for free Lines 4–7. Where can i file 2011 taxes for free   Skip these lines. Where can i file 2011 taxes for free Line 8. Where can i file 2011 taxes for free   Enter the amount you paid to repair the damage to your home and household appliances due to corrosive drywall. Where can i file 2011 taxes for free Enter only the amounts you paid to restore your home to the condition existing immediately before the damage. Where can i file 2011 taxes for free Do not enter any amounts you paid for improvements or additions that increased the value of your home above its pre-loss value. Where can i file 2011 taxes for free If you replaced a household appliance instead of repairing it, enter the lesser of: The current cost to replace the original appliance, or The basis of the original appliance (generally its cost). Where can i file 2011 taxes for free Line 9. Where can i file 2011 taxes for free   If line 8 is more than line 3, do one of the following. Where can i file 2011 taxes for free If you have a pending claim for reimbursement (or you intend to pursue reimbursement), enter 75% of the difference between lines 3 and 8. Where can i file 2011 taxes for free If item (1) does not apply to you, enter the full amount of the difference between lines 3 and 8. Where can i file 2011 taxes for free If line 8 is less than or equal to line 3, you cannot claim a casualty loss deduction using this special procedure. Where can i file 2011 taxes for free    If you have a pending claim for reimbursement (or you intend to pursue reimbursement), you may have income or an additional deduction in a later tax year depending on the actual amount of reimbursement received. Where can i file 2011 taxes for free See Reimbursement Received After Deducting Loss, later. Where can i file 2011 taxes for free Lines 10–18. Where can i file 2011 taxes for free   Complete these lines according to the Instructions for Form 4684. Where can i file 2011 taxes for free Choosing not to follow this special procedure. Where can i file 2011 taxes for free   If you choose not to follow this special procedure, you are subject to all of the provisions that apply to the deductibility of casualty losses, and you must complete lines 1–9 according to the Instructions for Form 4684. Where can i file 2011 taxes for free This means, for example, that you must establish that the damage, destruction, or loss of property resulted from an identifiable event as defined earlier under Casualty . Where can i file 2011 taxes for free Furthermore, you must have proof that shows the following. Where can i file 2011 taxes for free The loss is properly deductible in the tax year you claimed it and not in some other year. Where can i file 2011 taxes for free See When To Report Gains and Losses , later. Where can i file 2011 taxes for free The amount of the claimed loss. Where can i file 2011 taxes for free See Proof of Loss , later. Where can i file 2011 taxes for free No claim for reimbursement of any portion of the loss exists for which there is a reasonable prospect of recovery. Where can i file 2011 taxes for free See When To Report Gains and Losses , later. Where can i file 2011 taxes for free Theft A theft is the taking and removing of money or property with the intent to deprive the owner of it. Where can i file 2011 taxes for free The taking of property must be illegal under the law of the state where it occurred and it must have been done with criminal intent. Where can i file 2011 taxes for free You do not need to show a conviction for theft. Where can i file 2011 taxes for free Theft includes the taking of money or property by the following means. Where can i file 2011 taxes for free Blackmail. Where can i file 2011 taxes for free Burglary. Where can i file 2011 taxes for free Embezzlement. Where can i file 2011 taxes for free Extortion. Where can i file 2011 taxes for free Kidnapping for ransom. Where can i file 2011 taxes for free Larceny. Where can i file 2011 taxes for free Robbery. Where can i file 2011 taxes for free The taking of money or property through fraud or misrepresentation is theft if it is illegal under state or local law. Where can i file 2011 taxes for free Decline in market value of stock. Where can i file 2011 taxes for free   You cannot deduct as a theft loss the decline in market value of stock acquired on the open market for investment if the decline is caused by disclosure of accounting fraud or other illegal misconduct by the officers or directors of the corporation that issued the stock. Where can i file 2011 taxes for free However, you can deduct as a capital loss the loss you sustain when you sell or exchange the stock or the stock becomes completely worthless. Where can i file 2011 taxes for free You report a capital loss on Schedule D (Form 1040). Where can i file 2011 taxes for free For more information about stock sales, worthless stock, and capital losses, see chapter 4 of Publication 550. Where can i file 2011 taxes for free Mislaid or lost property. Where can i file 2011 taxes for free    The simple disappearance of money or property is not a theft. Where can i file 2011 taxes for free However, an accidental loss or disappearance of property can qualify as a casualty if it results from an identifiable event that is sudden, unexpected, or unusual. Where can i file 2011 taxes for free Sudden, unexpected, and unusual events were defined earlier under Casualty . Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. Where can i file 2011 taxes for free The diamond falls from the ring and is never found. Where can i file 2011 taxes for free The loss of the diamond is a casualty. Where can i file 2011 taxes for free Losses from Ponzi-type investment schemes. Where can i file 2011 taxes for free   The IRS has issued the following guidance to assist taxpayers who are victims of losses from Ponzi-type investment schemes: Revenue Ruling 2009-9, 2009-14 I. Where can i file 2011 taxes for free R. Where can i file 2011 taxes for free B. Where can i file 2011 taxes for free 735 (available at www. Where can i file 2011 taxes for free irs. Where can i file 2011 taxes for free gov/irb/2009-14_IRB/ar07. Where can i file 2011 taxes for free html). Where can i file 2011 taxes for free Revenue Procedure 2009-20, 2009-14 I. Where can i file 2011 taxes for free R. Where can i file 2011 taxes for free B. Where can i file 2011 taxes for free 749 (available at www. Where can i file 2011 taxes for free irs. Where can i file 2011 taxes for free gov/irb/2009-14_IRB/ar11. Where can i file 2011 taxes for free html). Where can i file 2011 taxes for free Revenue Procedure 2011-58, 2011-50 I. Where can i file 2011 taxes for free R. Where can i file 2011 taxes for free B. Where can i file 2011 taxes for free 847 (available at www. Where can i file 2011 taxes for free irs. Where can i file 2011 taxes for free gov/irb/2011-50_IRB/ar11. Where can i file 2011 taxes for free html). Where can i file 2011 taxes for free If you qualify to use Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58, and you choose to follow the procedures in the guidance, first fill out Section C of Form 4684 to determine the amount to enter on Section B, line 28. Where can i file 2011 taxes for free Skip lines 19 to 27, but you must fill out Section B, lines 29 to 39, as appropriate. Where can i file 2011 taxes for free Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. Where can i file 2011 taxes for free You do not need to complete Appendix A. Where can i file 2011 taxes for free For more information, see the above revenue ruling and revenue procedures, and the Instructions for Form 4684. Where can i file 2011 taxes for free   If you choose not to use the procedures in Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58, you may claim your theft loss by filling out Section B, lines 19 to 39, as appropriate. Where can i file 2011 taxes for free Loss on Deposits A loss on deposits can occur when a bank, credit union, or other financial institution becomes insolvent or bankrupt. Where can i file 2011 taxes for free If you incurred this type of loss, you can choose one of the following ways to deduct the loss. Where can i file 2011 taxes for free As a casualty loss. Where can i file 2011 taxes for free As an ordinary loss. Where can i file 2011 taxes for free As a nonbusiness bad debt. Where can i file 2011 taxes for free Casualty loss or ordinary loss. Where can i file 2011 taxes for free   You can choose to deduct a loss on deposits as a casualty loss or as an ordinary loss for any year in which you can reasonably estimate how much of your deposits you have lost in an insolvent or bankrupt financial institution. Where can i file 2011 taxes for free The choice generally is made on the return you file for that year and applies to all your losses on deposits for the year in that particular financial institution. Where can i file 2011 taxes for free If you treat the loss as a casualty or ordinary loss, you cannot treat the same amount of the loss as a nonbusiness bad debt when it actually becomes worthless. Where can i file 2011 taxes for free However, you can take a nonbusiness bad debt deduction for any amount of loss that is more than the estimated amount you deducted as a casualty or ordinary loss. Where can i file 2011 taxes for free Once you make the choice, you cannot change it without permission from the Internal Revenue Service. Where can i file 2011 taxes for free   If you claim an ordinary loss, report it as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23. Where can i file 2011 taxes for free The maximum amount you can claim is $20,000 ($10,000 if you are married filing separately) reduced by any expected state insurance proceeds. Where can i file 2011 taxes for free Your loss is subject to the 2%-of-adjusted-gross-income limit. Where can i file 2011 taxes for free You cannot choose to claim an ordinary loss if any part of the deposit is federally insured. Where can i file 2011 taxes for free Nonbusiness bad debt. Where can i file 2011 taxes for free   If you do not choose to deduct the loss as a casualty loss or as an ordinary loss, you must wait until the year the actual loss is determined and deduct the loss as a nonbusiness bad debt in that year. Where can i file 2011 taxes for free How to report. Where can i file 2011 taxes for free   The kind of deduction you choose for your loss on deposits determines how you report your loss. Where can i file 2011 taxes for free See Table 1. Where can i file 2011 taxes for free More information. Where can i file 2011 taxes for free   For more information, see Special Treatment for Losses on Deposits in Insolvent or Bankrupt Financial Institutions in the Instructions for Form 4684. Where can i file 2011 taxes for free Deducted loss recovered. Where can i file 2011 taxes for free   If you recover an amount you deducted as a loss in an earlier year, you may have to include the amount recovered in your income for the year of recovery. Where can i file 2011 taxes for free If any part of the original deduction did not reduce your tax in the earlier year, you do not have to include that part of the recovery in your income. Where can i file 2011 taxes for free For more information, see Recoveries in Publication 525. Where can i file 2011 taxes for free Proof of Loss To deduct a casualty or theft loss, you must be able to show that there was a casualty or theft. Where can i file 2011 taxes for free You also must be able to support the amount you take as a deduction. Where can i file 2011 taxes for free Casualty loss proof. Where can i file 2011 taxes for free   For a casualty loss, you should be able to show all of the following. Where can i file 2011 taxes for free The type of casualty (car accident, fire, storm, etc. Where can i file 2011 taxes for free ) and when it occurred. Where can i file 2011 taxes for free That the loss was a direct result of the casualty. Where can i file 2011 taxes for free That you were the owner of the property, or if you leased the property from someone else, that you were contractually liable to the owner for the damage. Where can i file 2011 taxes for free Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Where can i file 2011 taxes for free Theft loss proof. Where can i file 2011 taxes for free   For a theft loss, you should be able to show all of the following. Where can i file 2011 taxes for free When you discovered that your property was missing. Where can i file 2011 taxes for free That your property was stolen. Where can i file 2011 taxes for free That you were the owner of the property. Where can i file 2011 taxes for free Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Where can i file 2011 taxes for free    It is important that you have records that will prove your deduction. Where can i file 2011 taxes for free If you do not have the actual records to support your deduction, you can use other satisfactory evidence to support it. Where can i file 2011 taxes for free Figuring a Loss To determine your deduction for a casualty or theft loss, you must first figure your loss. Where can i file 2011 taxes for free Table 1. Where can i file 2011 taxes for free Reporting Loss on Deposits IF you choose to report the loss as a(n). Where can i file 2011 taxes for free . Where can i file 2011 taxes for free . Where can i file 2011 taxes for free   THEN report it on. Where can i file 2011 taxes for free . Where can i file 2011 taxes for free . Where can i file 2011 taxes for free casualty loss   Form 4684 and Schedule A  (Form 1040). Where can i file 2011 taxes for free ordinary loss   Schedule A (Form 1040). Where can i file 2011 taxes for free nonbusiness bad debt   Form 8949 and Schedule D (Form 1040). Where can i file 2011 taxes for free Amount of loss. Where can i file 2011 taxes for free   Figure the amount of your loss using the following steps. Where can i file 2011 taxes for free Determine your adjusted basis in the property before the casualty or theft. Where can i file 2011 taxes for free Determine the decrease in fair market value (FMV) of the property as a result of the casualty or theft. Where can i file 2011 taxes for free From the smaller of the amounts you determined in (1) and (2), subtract any insurance or other reimbursement you received or expect to receive. Where can i file 2011 taxes for free For personal-use property and property used in performing services as an employee, apply the deduction limits, discussed later, to determine the amount of your deductible loss. Where can i file 2011 taxes for free Gain from reimbursement. Where can i file 2011 taxes for free   If your reimbursement is more than your adjusted basis in the property, you have a gain. Where can i file 2011 taxes for free This is true even if the decrease in the FMV of the property is smaller than your adjusted basis. Where can i file 2011 taxes for free If you have a gain, you may have to pay tax on it, or you may be able to postpone reporting the gain. Where can i file 2011 taxes for free See Figuring a Gain , later. Where can i file 2011 taxes for free Business or income-producing property. Where can i file 2011 taxes for free   If you have business or income-producing property, such as rental property, and it is stolen or completely destroyed, the decrease in FMV is not considered. Where can i file 2011 taxes for free Your loss is figured as follows:   Your adjusted basis in the property     MINUS     Any salvage value     MINUS     Any insurance or other reimbursement you  receive or expect to receive   Loss of inventory. Where can i file 2011 taxes for free   There are two ways you can deduct a casualty or theft loss of inventory, including items you hold for sale to customers. Where can i file 2011 taxes for free   One way is to deduct the loss through the increase in the cost of goods sold by properly reporting your opening and closing inventories. Where can i file 2011 taxes for free Do not claim this loss again as a casualty or theft loss. Where can i file 2011 taxes for free If you take the loss through the increase in the cost of goods sold, include any insurance or other reimbursement you receive for the loss in gross income. Where can i file 2011 taxes for free   The other way is to deduct the loss separately. Where can i file 2011 taxes for free If you deduct it separately, eliminate the affected inventory items from the cost of goods sold by making a downward adjustment to opening inventory or purchases. Where can i file 2011 taxes for free Reduce the loss by the reimbursement you received. Where can i file 2011 taxes for free Do not include the reimbursement in gross income. Where can i file 2011 taxes for free If you do not receive the reimbursement by the end of the year, you may not claim a loss to the extent you have a reasonable prospect of recovery. Where can i file 2011 taxes for free Leased property. Where can i file 2011 taxes for free   If you are liable for casualty damage to property you lease, your loss is the amount you must pay to repair the property minus any insurance or other reimbursement you receive or expect to receive. Where can i file 2011 taxes for free Separate computations. Where can i file 2011 taxes for free   Generally, if a single casualty or theft involves more than one item of property, you must figure the loss on each item separately. Where can i file 2011 taxes for free Then combine the losses to determine the total loss from that casualty or theft. Where can i file 2011 taxes for free Exception for personal-use real property. Where can i file 2011 taxes for free   In figuring a casualty loss on personal-use real property, the entire property (including any improvements, such as buildings, trees, and shrubs) is treated as one item. Where can i file 2011 taxes for free Figure the loss using the smaller of the following. Where can i file 2011 taxes for free The decrease in FMV of the entire property. Where can i file 2011 taxes for free The adjusted basis of the entire property. Where can i file 2011 taxes for free   See Real property under Figuring the Deduction, later. Where can i file 2011 taxes for free Decrease in Fair Market Value Fair market value (FMV) is the price for which you could sell your property to a willing buyer when neither of you has to sell or buy and both of you know all the relevant facts. Where can i file 2011 taxes for free The decrease in FMV used to figure the amount of a casualty or theft loss is the difference between the property's fair market value immediately before and immediately after the casualty or theft. Where can i file 2011 taxes for free FMV of stolen property. Where can i file 2011 taxes for free   The FMV of property immediately after a theft is considered to be zero because you no longer have the property. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Several years ago, you purchased silver dollars at face value for $150. Where can i file 2011 taxes for free This is your adjusted basis in the property. Where can i file 2011 taxes for free Your silver dollars were stolen this year. Where can i file 2011 taxes for free The FMV of the coins was $1,000 just before they were stolen, and insurance did not cover them. Where can i file 2011 taxes for free Your theft loss is $150. Where can i file 2011 taxes for free Recovered stolen property. Where can i file 2011 taxes for free   Recovered stolen property is your property that was stolen and later returned to you. Where can i file 2011 taxes for free If you recovered property after you had already taken a theft loss deduction, you must refigure your loss using the smaller of the property's adjusted basis (explained later) or the decrease in FMV from the time just before it was stolen until the time it was recovered. Where can i file 2011 taxes for free Use this amount to refigure your total loss for the year in which the loss was deducted. Where can i file 2011 taxes for free   If your refigured loss is less than the loss you deducted, you generally have to report the difference as income in the recovery year. Where can i file 2011 taxes for free But report the difference only up to the amount of the loss that reduced your tax. Where can i file 2011 taxes for free For more information on the amount to report, see Recoveries in Publication 525. Where can i file 2011 taxes for free Figuring Decrease in FMV — Items To Consider To figure the decrease in FMV because of a casualty or theft, you generally need a competent appraisal. Where can i file 2011 taxes for free However, other measures also can be used to establish certain decreases. Where can i file 2011 taxes for free See Appraisal and Cost of cleaning up or making repairs , next. Where can i file 2011 taxes for free Appraisal. Where can i file 2011 taxes for free   An appraisal to determine the difference between the FMV of the property immediately before a casualty or theft and immediately afterwards should be made by a competent appraiser. Where can i file 2011 taxes for free The appraiser must recognize the effects of any general market decline that may occur along with the casualty. Where can i file 2011 taxes for free This information is needed to limit any deduction to the actual loss resulting from damage to the property. Where can i file 2011 taxes for free   Several factors are important in evaluating the accuracy of an appraisal, including the following. Where can i file 2011 taxes for free The appraiser's familiarity with your property before and after the casualty or theft. Where can i file 2011 taxes for free The appraiser's knowledge of sales of comparable property in the area. Where can i file 2011 taxes for free The appraiser's knowledge of conditions in the area of the casualty. Where can i file 2011 taxes for free The appraiser's method of appraisal. Where can i file 2011 taxes for free You may be able to use an appraisal that you used to get a federal loan (or a federal loan guarantee) as the result of a federally declared disaster to establish the amount of your disaster loss. Where can i file 2011 taxes for free For more information on disasters, see Disaster Area Losses, later. Where can i file 2011 taxes for free Cost of cleaning up or making repairs. Where can i file 2011 taxes for free   The cost of repairing damaged property is not part of a casualty loss. Where can i file 2011 taxes for free Neither is the cost of cleaning up after a casualty. Where can i file 2011 taxes for free But you can use the cost of cleaning up or of making repairs after a casualty as a measure of the decrease in FMV if you meet all the following conditions. Where can i file 2011 taxes for free The repairs are actually made. Where can i file 2011 taxes for free The repairs are necessary to bring the property back to its condition before the casualty. Where can i file 2011 taxes for free The amount spent for repairs is not excessive. Where can i file 2011 taxes for free The repairs take care of the damage only. Where can i file 2011 taxes for free The value of the property after the repairs is not, due to the repairs, more than the value of the property before the casualty. Where can i file 2011 taxes for free Landscaping. Where can i file 2011 taxes for free   The cost of restoring landscaping to its original condition after a casualty may indicate the decrease in FMV. Where can i file 2011 taxes for free You may be able to measure your loss by what you spend on the following. Where can i file 2011 taxes for free Removing destroyed or damaged trees and shrubs, minus any salvage you receive. Where can i file 2011 taxes for free Pruning and other measures taken to preserve damaged trees and shrubs. Where can i file 2011 taxes for free Replanting necessary to restore the property to its approximate value before the casualty. Where can i file 2011 taxes for free Car value. Where can i file 2011 taxes for free   Books issued by various automobile organizations that list your car may be useful in figuring the value of your car. Where can i file 2011 taxes for free You can use the books' retail values and modify them by factors such as the mileage and condition of your car to figure its value. Where can i file 2011 taxes for free The prices are not official, but they may be useful in determining value and suggesting relative prices for comparison with current sales and offerings in your area. Where can i file 2011 taxes for free If your car is not listed in the books, determine its value from other sources. Where can i file 2011 taxes for free A dealer's offer for your car as a trade-in on a new car is not usually a measure of its true value. Where can i file 2011 taxes for free Figuring Decrease in FMV — Items Not To Consider You generally should not consider the following items when attempting to establish the decrease in FMV of your property. Where can i file 2011 taxes for free Cost of protection. Where can i file 2011 taxes for free   The cost of protecting your property against a casualty or theft is not part of a casualty or theft loss. Where can i file 2011 taxes for free The amount you spend on insurance or to board up your house against a storm is not part of your loss. Where can i file 2011 taxes for free If the property is business property, these expenses are deductible as business expenses. Where can i file 2011 taxes for free   If you make permanent improvements to your property to protect it against a casualty or theft, add the cost of these improvements to your basis in the property. Where can i file 2011 taxes for free An example would be the cost of a dike to prevent flooding. Where can i file 2011 taxes for free Exception. Where can i file 2011 taxes for free   You cannot increase your basis in the property by, or deduct as a business expense, any expenditures you made with respect to qualified disaster mitigation payments (discussed later under Disaster Area Losses ). Where can i file 2011 taxes for free Related expenses. Where can i file 2011 taxes for free   The incidental expenses due to a casualty or theft, such as expenses for the treatment of personal injuries, for temporary housing, or for a rental car, are not part of your casualty or theft loss. Where can i file 2011 taxes for free However, they may be deductible as business expenses if the damaged or stolen property is business property. Where can i file 2011 taxes for free Replacement cost. Where can i file 2011 taxes for free   The cost of replacing stolen or destroyed property is not part of a casualty or theft loss. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free You bought a new chair 4 years ago for $300. Where can i file 2011 taxes for free In April, a fire destroyed the chair. Where can i file 2011 taxes for free You estimate that it would cost $500 to replace it. Where can i file 2011 taxes for free If you had sold the chair before the fire, you estimate that you could have received only $100 for it because it was 4 years old. Where can i file 2011 taxes for free The chair was not insured. Where can i file 2011 taxes for free Your loss is $100, the FMV of the chair before the fire. Where can i file 2011 taxes for free It is not $500, the replacement cost. Where can i file 2011 taxes for free Sentimental value. Where can i file 2011 taxes for free   Do not consider sentimental value when determining your loss. Where can i file 2011 taxes for free If a family portrait, heirloom, or keepsake is damaged, destroyed, or stolen, you must base your loss on its FMV, as limited by your adjusted basis in the property. Where can i file 2011 taxes for free Decline in market value of property in or near casualty area. Where can i file 2011 taxes for free   A decrease in the value of your property because it is in or near an area that suffered a casualty, or that might again suffer a casualty, is not to be taken into consideration. Where can i file 2011 taxes for free You have a loss only for actual casualty damage to your property. Where can i file 2011 taxes for free However, if your home is in a federally declared disaster area, see Disaster Area Losses , later. Where can i file 2011 taxes for free Costs of photographs and appraisals. Where can i file 2011 taxes for free   Photographs taken after a casualty will be helpful in establishing the condition and value of the property after it was damaged. Where can i file 2011 taxes for free Photographs showing the condition of the property after it was repaired, restored, or replaced may also be helpful. Where can i file 2011 taxes for free   Appraisals are used to figure the decrease in FMV because of a casualty or theft. Where can i file 2011 taxes for free See Appraisal , earlier, under Figuring Decrease in FMV — Items To Consider, for information about appraisals. Where can i file 2011 taxes for free   The costs of photographs and appraisals used as evidence of the value and condition of property damaged as a result of a casualty are not a part of the loss. Where can i file 2011 taxes for free They are expenses in determining your tax liability. Where can i file 2011 taxes for free You can claim these costs as a miscellaneous itemized deduction subject to the 2%-of-adjusted-gross-income limit on Schedule A (Form 1040). Where can i file 2011 taxes for free Adjusted Basis The measure of your investment in the property you own is its basis. Where can i file 2011 taxes for free For property you buy, your basis is usually its cost to you. Where can i file 2011 taxes for free For property you acquire in some other way, such as inheriting it, receiving it as a gift, or getting it in a nontaxable exchange, you must figure your basis in another way, as explained in Publication 551. Where can i file 2011 taxes for free If you inherited the property from someone who died in 2010 and the executor of the decedent's estate made the election to file Form 8939, refer to the information provided by the executor or see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010. Where can i file 2011 taxes for free Adjustments to basis. Where can i file 2011 taxes for free    While you own the property, various events may take place that change your basis. Where can i file 2011 taxes for free Some events, such as additions or permanent improvements to the property, increase basis. Where can i file 2011 taxes for free Others, such as earlier casualty losses and depreciation deductions, decrease basis. Where can i file 2011 taxes for free When you add the increases to the basis and subtract the decreases from the basis, the result is your adjusted basis. Where can i file 2011 taxes for free See Publication 551 for more information on figuring the basis of your property. Where can i file 2011 taxes for free Insurance and Other Reimbursements If you receive an insurance or other type of reimbursement, you must subtract the reimbursement when you figure your loss. Where can i file 2011 taxes for free You do not have a casualty or theft loss to the extent you are reimbursed. Where can i file 2011 taxes for free If you expect to be reimbursed for part or all of your loss, you must subtract the expected reimbursement when you figure your loss. Where can i file 2011 taxes for free You must reduce your loss even if you do not receive payment until a later tax year. Where can i file 2011 taxes for free See Reimbursement Received After Deducting Loss , later. Where can i file 2011 taxes for free Failure to file a claim for reimbursement. Where can i file 2011 taxes for free   If your property is covered by insurance, you must file a timely insurance claim for reimbursement of your loss. Where can i file 2011 taxes for free Otherwise, you cannot deduct this loss as a casualty or theft. Where can i file 2011 taxes for free The portion of the loss usually not covered by insurance (for example, a deductible) is not subject to this rule. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free You have a car insurance policy with a $1,000 deductible. Where can i file 2011 taxes for free Because your insurance did not cover the first $1,000 of an auto collision, the $1,000 would be deductible (subject to the $100 and 10% rules, discussed later). Where can i file 2011 taxes for free This is true, even if you do not file an insurance claim, because your insurance policy would never have reimbursed you for the deductible. Where can i file 2011 taxes for free Types of Reimbursements The most common type of reimbursement is an insurance payment for your stolen or damaged property. Where can i file 2011 taxes for free Other types of reimbursements are discussed next. Where can i file 2011 taxes for free Also see the Instructions for Form 4684. Where can i file 2011 taxes for free Employer's emergency disaster fund. Where can i file 2011 taxes for free   If you receive money from your employer's emergency disaster fund and you must use that money to rehabilitate or replace property on which you are claiming a casualty loss deduction, you must take that money into consideration in computing the casualty loss deduction. Where can i file 2011 taxes for free Take into consideration only the amount you used to replace your destroyed or damaged property. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Your home was extensively damaged by a tornado. Where can i file 2011 taxes for free Your loss after reimbursement from your insurance company was $10,000. Where can i file 2011 taxes for free Your employer set up a disaster relief fund for its employees. Where can i file 2011 taxes for free Employees receiving money from the fund had to use it to rehabilitate or replace their damaged or destroyed property. Where can i file 2011 taxes for free You received $4,000 from the fund and spent the entire amount on repairs to your home. Where can i file 2011 taxes for free In figuring your casualty loss, you must reduce your unreimbursed loss ($10,000) by the $4,000 you received from your employer's fund. Where can i file 2011 taxes for free Your casualty loss before applying the deduction limits (discussed later) is $6,000. Where can i file 2011 taxes for free Cash gifts. Where can i file 2011 taxes for free   If you receive excludable cash gifts as a disaster victim and there are no limits on how you can use the money, you do not reduce your casualty loss by these excludable cash gifts. Where can i file 2011 taxes for free This applies even if you use the money to pay for repairs to property damaged in the disaster. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Your home was damaged by a hurricane. Where can i file 2011 taxes for free Relatives and neighbors made cash gifts to you that were excludable from your income. Where can i file 2011 taxes for free You used part of the cash gifts to pay for repairs to your home. Where can i file 2011 taxes for free There were no limits or restrictions on how you could use the cash gifts. Where can i file 2011 taxes for free It was an excludable gift, so the money you received and used to pay for repairs to your home does not reduce your casualty loss on the damaged home. Where can i file 2011 taxes for free Insurance payments for living expenses. Where can i file 2011 taxes for free   You do not reduce your casualty loss by insurance payments you receive to cover living expenses in either of the following situations. Where can i file 2011 taxes for free You lose the use of your main home because of a casualty. Where can i file 2011 taxes for free Government authorities do not allow you access to your main home because of a casualty or threat of one. Where can i file 2011 taxes for free Inclusion in income. Where can i file 2011 taxes for free   If these insurance payments are more than the temporary increase in your living expenses, you must include the excess in your income. Where can i file 2011 taxes for free Report this amount on Form 1040, line 21. Where can i file 2011 taxes for free However, if the casualty occurs in a federally declared disaster area, none of the insurance payments are taxable. Where can i file 2011 taxes for free See Qualified disaster relief payments , later, under Disaster Area Losses. Where can i file 2011 taxes for free   A temporary increase in your living expenses is the difference between the actual living expenses you and your family incurred during the period you could not use your home and your normal living expenses for that period. Where can i file 2011 taxes for free Actual living expenses are the reasonable and necessary expenses incurred because of the loss of your main home. Where can i file 2011 taxes for free Generally, these expenses include the amounts you pay for the following. Where can i file 2011 taxes for free Renting suitable housing. Where can i file 2011 taxes for free Transportation. Where can i file 2011 taxes for free Food. Where can i file 2011 taxes for free Utilities. Where can i file 2011 taxes for free Miscellaneous services. Where can i file 2011 taxes for free Normal living expenses consist of these same expenses that you would have incurred but did not because of the casualty or the threat of one. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free As a result of a fire, you vacated your apartment for a month and moved to a motel. Where can i file 2011 taxes for free You normally pay $525 a month for rent. Where can i file 2011 taxes for free None was charged for the month the apartment was vacated. Where can i file 2011 taxes for free Your motel rent for this month was $1,200. Where can i file 2011 taxes for free You normally pay $200 a month for food. Where can i file 2011 taxes for free Your food expenses for the month you lived in the motel were $400. Where can i file 2011 taxes for free You received $1,100 from your insurance company to cover your living expenses. Where can i file 2011 taxes for free You determine the payment you must include in income as follows. Where can i file 2011 taxes for free 1. Where can i file 2011 taxes for free Insurance payment for living expenses $1,100 2. Where can i file 2011 taxes for free Actual expenses during the month you are unable to use your home because of the fire $1,600   3. Where can i file 2011 taxes for free Normal living expenses 725   4. Where can i file 2011 taxes for free Temporary increase in living expenses: Subtract line 3  from line 2 875 5. Where can i file 2011 taxes for free Amount of payment includible in income: Subtract line 4 from line 1 $ 225 Tax year of inclusion. Where can i file 2011 taxes for free   You include the taxable part of the insurance payment in income for the year you regain the use of your main home or, if later, for the year you receive the taxable part of the insurance payment. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Your main home was destroyed by a tornado in August 2011. Where can i file 2011 taxes for free You regained use of your home in November 2012. Where can i file 2011 taxes for free The insurance payments you received in 2011 and 2012 were $1,500 more than the temporary increase in your living expenses during those years. Where can i file 2011 taxes for free You include this amount in income on your 2012 Form 1040. Where can i file 2011 taxes for free If, in 2013, you receive further payments to cover the living expenses you had in 2011 and 2012, you must include those payments in income on your 2013 Form 1040. Where can i file 2011 taxes for free Disaster relief. Where can i file 2011 taxes for free   Food, medical supplies, and other forms of assistance you receive do not reduce your casualty loss, unless they are replacements for lost or destroyed property. Where can i file 2011 taxes for free Table 2. Where can i file 2011 taxes for free Deduction Limit Rules for Personal-Use and Employee Property       $100 Rule 10% Rule 2% Rule General Application You must reduce each casualty or theft loss by $100 when figuring your deduction. Where can i file 2011 taxes for free Apply this rule to personal-use property after you have figured the amount of your loss. Where can i file 2011 taxes for free You must reduce your total casualty or theft loss by 10% of your adjusted gross income. Where can i file 2011 taxes for free Apply this rule to personal-use property after you reduce each loss by $100 (the $100 rule). Where can i file 2011 taxes for free You must reduce your total casualty or theft loss by 2% of your adjusted gross income. Where can i file 2011 taxes for free Apply this rule to property you used in performing services as an employee after you have figured the amount of your loss and added it to your job expenses and most other miscellaneous itemized deductions. Where can i file 2011 taxes for free Single Event Apply this rule only once, even if many pieces of property are affected. Where can i file 2011 taxes for free Apply this rule only once, even if many pieces of property are affected. Where can i file 2011 taxes for free Apply this rule only once, even if many pieces of property are affected. Where can i file 2011 taxes for free More Than One Event Apply to the loss from each event. Where can i file 2011 taxes for free Apply to the total of all your losses from all events. Where can i file 2011 taxes for free Apply to the total of all your losses from all events. Where can i file 2011 taxes for free More Than One Person— With Loss From the   Same Event  (other than a married couple  filing jointly) Apply separately to each person. Where can i file 2011 taxes for free Apply separately to each person. Where can i file 2011 taxes for free Apply separately to each person. Where can i file 2011 taxes for free Married Couple—  With Loss From the  Same Event Filing Joint Return Apply as if you were one person. Where can i file 2011 taxes for free Apply as if you were one person. Where can i file 2011 taxes for free Apply as if you were one person. Where can i file 2011 taxes for free Filing Separate Return Apply separately to each spouse. Where can i file 2011 taxes for free Apply separately to each spouse. Where can i file 2011 taxes for free Apply separately to each spouse. Where can i file 2011 taxes for free More Than One Owner (other than a married couple filing jointly) Apply separately to each owner of jointly owned property. Where can i file 2011 taxes for free Apply separately to each owner of jointly owned property. Where can i file 2011 taxes for free Apply separately to each owner of jointly owned property. Where can i file 2011 taxes for free    Qualified disaster relief payments you receive for expenses you incurred as a result of a federally declared disaster, are not taxable income to you. Where can i file 2011 taxes for free For more information, see Qualified disaster relief payments under Disaster Area Losses, later. Where can i file 2011 taxes for free   Disaster unemployment assistance payments are unemployment benefits that are taxable. Where can i file 2011 taxes for free   Generally, disaster relief grants received under the Robert T. Where can i file 2011 taxes for free Stafford Disaster Relief and Emergency Assistance Act are not included in your income. Where can i file 2011 taxes for free See Federal disaster relief grants , later, under Disaster Area Losses. Where can i file 2011 taxes for free Loan proceeds. Where can i file 2011 taxes for free   Do not reduce your casualty loss by loan proceeds you use to rehabilitate or replace property on which you are claiming a casualty loss deduction. Where can i file 2011 taxes for free If you have a federal loan that is canceled (forgiven), see Federal loan canceled , later, under Disaster Area Losses. Where can i file 2011 taxes for free Reimbursement Received After Deducting Loss If you figured your casualty or theft loss using the amount of your expected reimbursement, you may have to adjust your tax return for the tax year in which you get your actual reimbursement. Where can i file 2011 taxes for free This section explains the adjustment you may have to make. Where can i file 2011 taxes for free Actual reimbursement less than expected. Where can i file 2011 taxes for free   If you later receive less reimbursement than you expected, include that difference as a loss with your other losses (if any) on your return for the year in which you can reasonably expect no more reimbursement. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Your personal car had a FMV of $2,000 when it was destroyed in a collision with another car in 2012. Where can i file 2011 taxes for free The accident was due to the negligence of the other driver. Where can i file 2011 taxes for free At the end of 2012, there was a reasonable prospect that the owner of the other car would reimburse you in full. Where can i file 2011 taxes for free You did not have a deductible loss in 2012. Where can i file 2011 taxes for free In January 2013, the court awards you a judgment of $2,000. Where can i file 2011 taxes for free However, in July it becomes apparent that you will be unable to collect any amount from the other driver. Where can i file 2011 taxes for free Since this is your only casualty or theft loss, you can deduct the loss in 2013 that is figured by applying the Deduction Limits (discussed later). Where can i file 2011 taxes for free Actual reimbursement more than expected. Where can i file 2011 taxes for free   If you later receive more reimbursement than you expected, after you have claimed a deduction for the loss, you may have to include the extra reimbursement in your income for the year you receive it. Where can i file 2011 taxes for free However, if any part of the original deduction did not reduce your tax for the earlier year, do not include that part of the reimbursement in your income. Where can i file 2011 taxes for free You do not refigure your tax for the year you claimed the deduction. Where can i file 2011 taxes for free See Recoveries in Publication 525 to find out how much extra reimbursement to include in income. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free In 2012, a hurricane destroyed your motorboat. Where can i file 2011 taxes for free Your loss was $3,000, and you estimated that your insurance would cover $2,500 of it. Where can i file 2011 taxes for free You did not itemize deductions on your 2012 return, so you could not deduct the loss. Where can i file 2011 taxes for free When the insurance company reimburses you for the loss, you do not report any of the reimbursement as income. Where can i file 2011 taxes for free This is true even if it is for the full $3,000 because you did not deduct the loss on your 2012 return. Where can i file 2011 taxes for free The loss did not reduce your tax. Where can i file 2011 taxes for free    If the total of all the reimbursements you receive is more than your adjusted basis in the destroyed or stolen property, you will have a gain on the casualty or theft. Where can i file 2011 taxes for free If you have already taken a deduction for a loss and you receive the reimbursement in a later year, you may have to include the gain in your income for the later year. Where can i file 2011 taxes for free Include the gain as ordinary income up to the amount of your deduction that reduced your tax for the earlier year. Where can i file 2011 taxes for free You may be able to postpone reporting any remaining gain as explained under Postponement of Gain, later. Where can i file 2011 taxes for free Actual reimbursement same as expected. Where can i file 2011 taxes for free   If you receive exactly the reimbursement you expected to receive, you do not have to include any of the reimbursement in your income and you cannot deduct any additional loss. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free In December 2013, you had a collision while driving your personal car. Where can i file 2011 taxes for free Repairs to the car cost $950. Where can i file 2011 taxes for free You had $100 deductible collision insurance. Where can i file 2011 taxes for free Your insurance company agreed to reimburse you for the rest of the damage. Where can i file 2011 taxes for free Because you expected a reimbursement from the insurance company, you did not have a casualty loss deduction in 2013. Where can i file 2011 taxes for free Due to the $100 rule, you cannot deduct the $100 you paid as the deductible. Where can i file 2011 taxes for free When you receive the $850 from the insurance company in 2014, do not report it as income. Where can i file 2011 taxes for free Deduction Limits After you have figured your casualty or theft loss, you must figure how much of the loss you can deduct. Where can i file 2011 taxes for free The deduction for casualty and theft losses of employee property and personal-use property is limited. Where can i file 2011 taxes for free A loss on employee property is subject to the 2% rule, discussed next. Where can i file 2011 taxes for free With certain exceptions, a loss on property you own for your personal use is subject to the $100 and 10% rules, discussed later. Where can i file 2011 taxes for free The 2%, $100, and 10% rules are also summarized in Table 2 . Where can i file 2011 taxes for free Losses on business property (other than employee property) and income-producing property are not subject to these rules. Where can i file 2011 taxes for free However, if your casualty or theft loss involved a home you used for business or rented out, your deductible loss may be limited. Where can i file 2011 taxes for free See the Instructions for Form 4684, Section B. Where can i file 2011 taxes for free If the casualty or theft loss involved property used in a passive activity, see Form 8582, Passive Activity Loss Limitations, and its instructions. Where can i file 2011 taxes for free 2% Rule The casualty and theft loss deduction for employee property, when added to your job expenses and most other miscellaneous itemized deductions on Schedule A (Form 1040) or Form 1040NR, Schedule A, must be reduced by 2% of your adjusted gross income. Where can i file 2011 taxes for free Employee property is property used in performing services as an employee. Where can i file 2011 taxes for free $100 Rule After you have figured your casualty or theft loss on personal-use property, as discussed earlier, you must reduce that loss by $100. Where can i file 2011 taxes for free This reduction applies to each total casualty or theft loss. Where can i file 2011 taxes for free It does not matter how many pieces of property are involved in an event. Where can i file 2011 taxes for free Only a single $100 reduction applies. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free You have $750 deductible collision insurance on your car. Where can i file 2011 taxes for free The car is damaged in a collision. Where can i file 2011 taxes for free The insurance company pays you for the damage minus the $750 deductible. Where can i file 2011 taxes for free The amount of the casualty loss is based solely on the deductible. Where can i file 2011 taxes for free The casualty loss is $650 ($750 − $100) because the first $100 of a casualty loss on personal-use property is not deductible. Where can i file 2011 taxes for free Single event. Where can i file 2011 taxes for free   Generally, events closely related in origin cause a single casualty. Where can i file 2011 taxes for free It is a single casualty when the damage is from two or more closely related causes, such as wind and flood damage caused by the same storm. Where can i file 2011 taxes for free A single casualty may also damage two or more pieces of property, such as a hailstorm that damages both your home and your car parked in your driveway. Where can i file 2011 taxes for free Example 1. Where can i file 2011 taxes for free A thunderstorm destroyed your pleasure boat. Where can i file 2011 taxes for free You also lost some boating equipment in the storm. Where can i file 2011 taxes for free Your loss was $5,000 on the boat and $1,200 on the equipment. Where can i file 2011 taxes for free Your insurance company reimbursed you $4,500 for the damage to your boat. Where can i file 2011 taxes for free You had no insurance coverage on the equipment. Where can i file 2011 taxes for free Your casualty loss is from a single event and the $100 rule applies once. Where can i file 2011 taxes for free Figure your loss before applying the 10% rule (discussed later) as follows. Where can i file 2011 taxes for free     Boat Equipment 1. Where can i file 2011 taxes for free Loss $5,000 $1,200 2. Where can i file 2011 taxes for free Subtract insurance 4,500 -0- 3. Where can i file 2011 taxes for free Loss after reimbursement $ 500 $1,200 4. Where can i file 2011 taxes for free Total loss $1,700 5. Where can i file 2011 taxes for free Subtract $100 100 6. Where can i file 2011 taxes for free Loss before 10% rule $1,600 Example 2. Where can i file 2011 taxes for free Thieves broke into your home in January and stole a ring and a fur coat. Where can i file 2011 taxes for free You had a loss of $200 on the ring and $700 on the coat. Where can i file 2011 taxes for free This is a single theft. Where can i file 2011 taxes for free The $100 rule applies to the total $900 loss. Where can i file 2011 taxes for free Example 3. Where can i file 2011 taxes for free In September, hurricane winds blew the roof off your home. Where can i file 2011 taxes for free Flood waters caused by the hurricane further damaged your home and destroyed your furniture and personal car. Where can i file 2011 taxes for free This is considered a single casualty. Where can i file 2011 taxes for free The $100 rule is applied to your total loss from the flood waters and the wind. Where can i file 2011 taxes for free More than one loss. Where can i file 2011 taxes for free   If you have more than one casualty or theft loss during your tax year, you must reduce each loss by $100. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Your family car was damaged in an accident in January. Where can i file 2011 taxes for free Your loss after the insurance reimbursement was $75. Where can i file 2011 taxes for free In February, your car was damaged in another accident. Where can i file 2011 taxes for free This time your loss after the insurance reimbursement was $90. Where can i file 2011 taxes for free Apply the $100 rule to each separate casualty loss. Where can i file 2011 taxes for free Since neither accident resulted in a loss of over $100, you are not entitled to any deduction for these accidents. Where can i file 2011 taxes for free More than one person. Where can i file 2011 taxes for free   If two or more individuals (other than a husband and wife filing a joint return) have losses from the same casualty or theft, the $100 rule applies separately to each individual. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free A fire damaged your house and also damaged the personal property of your house guest. Where can i file 2011 taxes for free You must reduce your loss by $100. Where can i file 2011 taxes for free Your house guest must reduce his or her loss by $100. Where can i file 2011 taxes for free Married taxpayers. Where can i file 2011 taxes for free   If you and your spouse file a joint return, you are treated as one individual in applying the $100 rule. Where can i file 2011 taxes for free It does not matter whether you own the property jointly or separately. Where can i file 2011 taxes for free   If you and your spouse have a casualty or theft loss and you file separate returns, each of you must reduce your loss by $100. Where can i file 2011 taxes for free This is true even if you own the property jointly. Where can i file 2011 taxes for free If one spouse owns the property, only that spouse can figure a loss deduction on a separate return. Where can i file 2011 taxes for free   If the casualty or theft loss is on property you own as tenants by the entirety, each of you can figure your deduction on only one-half of the loss on separate returns. Where can i file 2011 taxes for free Neither of you can figure your deduction on the entire loss on a separate return. Where can i file 2011 taxes for free Each of you must reduce the loss by $100. Where can i file 2011 taxes for free More than one owner. Where can i file 2011 taxes for free   If two or more individuals (other than a husband and wife filing a joint return) have a loss on property jointly owned, the $100 rule applies separately to each. Where can i file 2011 taxes for free For example, if two sisters live together in a home they own jointly and they have a casualty loss on the home, the $100 rule applies separately to each sister. Where can i file 2011 taxes for free 10% Rule You must reduce the total of all your casualty or theft losses on personal-use property by 10% of your adjusted gross income. Where can i file 2011 taxes for free Apply this rule after you reduce each loss by $100. Where can i file 2011 taxes for free For more information, see the Form 4684 instructions. Where can i file 2011 taxes for free If you have both gains and losses from casualties or thefts, see Gains and losses , later in this discussion. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free In June, you discovered that your house had been burglarized. Where can i file 2011 taxes for free Your loss after insurance reimbursement was $2,000. Where can i file 2011 taxes for free Your adjusted gross income for the year you discovered the theft is $29,500. Where can i file 2011 taxes for free Figure your theft loss as follows. Where can i file 2011 taxes for free 1. Where can i file 2011 taxes for free Loss after insurance $2,000 2. Where can i file 2011 taxes for free Subtract $100 100 3. Where can i file 2011 taxes for free Loss after $100 rule $1,900 4. Where can i file 2011 taxes for free Subtract 10% of $29,500 AGI $2,950 5. Where can i file 2011 taxes for free Theft loss deduction $-0- You do not have a theft loss deduction because your loss ($1,900) is less than 10% of your adjusted gross income ($2,950). Where can i file 2011 taxes for free More than one loss. Where can i file 2011 taxes for free   If you have more than one casualty or theft loss during your tax year, reduce each loss by any reimbursement and by $100. Where can i file 2011 taxes for free Then you must reduce the total of all your losses by 10% of your adjusted gross income. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free In March, you had a car accident that totally destroyed your car. Where can i file 2011 taxes for free You did not have collision insurance on your car, so you did not receive any insurance reimbursement. Where can i file 2011 taxes for free Your loss on the car was $1,800. Where can i file 2011 taxes for free In November, a fire damaged your basement and totally destroyed the furniture, washer, dryer, and other items you had stored there. Where can i file 2011 taxes for free Your loss on the basement items after reimbursement was $2,100. Where can i file 2011 taxes for free Your adjusted gross income for the year that the accident and fire occurred is $25,000. Where can i file 2011 taxes for free You figure your casualty loss deduction as follows. Where can i file 2011 taxes for free     Car Basement 1. Where can i file 2011 taxes for free Loss $1,800 $2,100 2. Where can i file 2011 taxes for free Subtract $100 per incident 100 100 3. Where can i file 2011 taxes for free Loss after $100 rule $1,700 $2,000 4. Where can i file 2011 taxes for free Total loss $3,700 5. Where can i file 2011 taxes for free Subtract 10% of $25,000 AGI 2,500 6. Where can i file 2011 taxes for free Casualty loss deduction $1,200 Married taxpayers. Where can i file 2011 taxes for free   If you and your spouse file a joint return, you are treated as one individual in applying the 10% rule. Where can i file 2011 taxes for free It does not matter if you own the property jointly or separately. Where can i file 2011 taxes for free   If you file separate returns, the 10% rule applies to each return on which a loss is claimed. Where can i file 2011 taxes for free More than one owner. Where can i file 2011 taxes for free   If two or more individuals (other than husband and wife filing a joint return) have a loss on property that is owned jointly, the 10% rule applies separately to each. Where can i file 2011 taxes for free Gains and losses. Where can i file 2011 taxes for free   If you have casualty or theft gains as well as losses to personal-use property, you must compare your total gains to your total losses. Where can i file 2011 taxes for free Do this after you have reduced each loss by any reimbursements and by $100 but before you have reduced the losses by 10% of your adjusted gross income. Where can i file 2011 taxes for free Casualty or theft gains do not include gains you choose to postpone. Where can i file 2011 taxes for free See Postponement of Gain, later. Where can i file 2011 taxes for free Losses more than gains. Where can i file 2011 taxes for free   If your losses are more than your recognized gains, subtract your gains from your losses and reduce the result by 10% of your adjusted gross income. Where can i file 2011 taxes for free The rest, if any, is your deductible loss from personal-use property. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Your theft loss after reducing it by reimbursements and by $100 is $2,700. Where can i file 2011 taxes for free Your casualty gain is $700. Where can i file 2011 taxes for free Your loss is more than your gain, so you must reduce your $2,000 net loss ($2,700 − $700) by 10% of your adjusted gross income. Where can i file 2011 taxes for free Gains more than losses. Where can i file 2011 taxes for free   If your recognized gains are more than your losses, subtract your losses from your gains. Where can i file 2011 taxes for free The difference is treated as a capital gain and must be reported on Schedule D (Form 1040). Where can i file 2011 taxes for free The 10% rule does not apply to your gains. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free Your theft loss is $600 after reducing it by reimbursements and by $100. Where can i file 2011 taxes for free Your casualty gain is $1,600. Where can i file 2011 taxes for free Because your gain is more than your loss, you must report the $1,000 net gain ($1,600 − $600) on Schedule D (Form 1040). Where can i file 2011 taxes for free More information. Where can i file 2011 taxes for free   For information on how to figure recognized gains, see Figuring a Gain , later. Where can i file 2011 taxes for free Figuring the Deduction Generally, you must figure your loss separately for each item stolen, damaged, or destroyed. Where can i file 2011 taxes for free However, a special rule applies to real property you own for personal use. Where can i file 2011 taxes for free Real property. Where can i file 2011 taxes for free   In figuring a loss to real estate you own for personal use, all improvements (such as buildings and ornamental trees and the land containing the improvements) are considered together. Where can i file 2011 taxes for free Example 1. Where can i file 2011 taxes for free In June, a fire destroyed your lakeside cottage, which cost $144,800 (including $14,500 for the land) several years ago. Where can i file 2011 taxes for free (Your land was not damaged. Where can i file 2011 taxes for free ) This was your only casualty or theft loss for the year. Where can i file 2011 taxes for free The FMV of the property immediately before the fire was $180,000 ($145,000 for the cottage and $35,000 for the land). Where can i file 2011 taxes for free The FMV immediately after the fire was $35,000 (value of the land). Where can i file 2011 taxes for free You collected $130,000 from the insurance company. Where can i file 2011 taxes for free Your adjusted gross income for the year the fire occurred is $80,000. Where can i file 2011 taxes for free Your deduction for the casualty loss is $6,700, figured in the following manner. Where can i file 2011 taxes for free 1. Where can i file 2011 taxes for free Adjusted basis of the entire property (cost in this example) $144,800 2. Where can i file 2011 taxes for free FMV of entire property  before fire $180,000 3. Where can i file 2011 taxes for free FMV of entire property after fire 35,000 4. Where can i file 2011 taxes for free Decrease in FMV of entire property (line 2 − line 3) $145,000 5. Where can i file 2011 taxes for free Loss (smaller of line 1 or line 4) $144,800 6. Where can i file 2011 taxes for free Subtract insurance 130,000 7. Where can i file 2011 taxes for free Loss after reimbursement $14,800 8. Where can i file 2011 taxes for free Subtract $100 100 9. Where can i file 2011 taxes for free Loss after $100 rule $14,700 10. Where can i file 2011 taxes for free Subtract 10% of $80,000 AGI 8,000 11. Where can i file 2011 taxes for free Casualty loss deduction $ 6,700 Example 2. Where can i file 2011 taxes for free You bought your home a few years ago. Where can i file 2011 taxes for free You paid $150,000 ($10,000 for the land and $140,000 for the house). Where can i file 2011 taxes for free You also spent an additional $2,000 for landscaping. Where can i file 2011 taxes for free This year a fire destroyed your home. Where can i file 2011 taxes for free The fire also damaged the shrubbery and trees in your yard. Where can i file 2011 taxes for free The fire was your only casualty or theft loss this year. Where can i file 2011 taxes for free Competent appraisers valued the property as a whole at $175,000 before the fire, but only $50,000 after the fire. Where can i file 2011 taxes for free Shortly after the fire, the insurance company paid you $95,000 for the loss. Where can i file 2011 taxes for free Your adjusted gross income for this year is $70,000. Where can i file 2011 taxes for free You figure your casualty loss deduction as follows. Where can i file 2011 taxes for free 1. Where can i file 2011 taxes for free Adjusted basis of the entire property (cost of land, building, and landscaping) $152,000 2. Where can i file 2011 taxes for free FMV of entire property  before fire $175,000 3. Where can i file 2011 taxes for free FMV of entire property after fire 50,000 4. Where can i file 2011 taxes for free Decrease in FMV of entire property (line 2 − line 3) $125,000 5. Where can i file 2011 taxes for free Loss (smaller of line 1 or line 4) $125,000 6. Where can i file 2011 taxes for free Subtract insurance 95,000 7. Where can i file 2011 taxes for free Loss after reimbursement $30,000 8. Where can i file 2011 taxes for free Subtract $100 100 9. Where can i file 2011 taxes for free Loss after $100 rule $29,900 10. Where can i file 2011 taxes for free Subtract 10% of $70,000 AGI 7,000 11. Where can i file 2011 taxes for free Casualty loss deduction $ 22,900 Personal property. Where can i file 2011 taxes for free   Personal property is any property that is not real property. Where can i file 2011 taxes for free If your personal property is stolen or is damaged or destroyed by a casualty, you must figure your loss separately for each item of property. Where can i file 2011 taxes for free Then combine these separate losses to figure the total loss. Where can i file 2011 taxes for free Reduce the total loss by $100 and 10% of your adjusted gross income to figure the loss deduction. Where can i file 2011 taxes for free Example 1. Where can i file 2011 taxes for free In August, a storm destroyed your pleasure boat, which cost $18,500. Where can i file 2011 taxes for free This was your only casualty or theft loss for the year. Where can i file 2011 taxes for free Its FMV immediately before the storm was $17,000. Where can i file 2011 taxes for free You had no insurance, but were able to salvage the motor of the boat and sell it for $200. Where can i file 2011 taxes for free Your adjusted gross income for the year the casualty occurred is $70,000. Where can i file 2011 taxes for free Although the motor was sold separately, it is part of the boat and not a separate item of property. Where can i file 2011 taxes for free You figure your casualty loss deduction as follows. Where can i file 2011 taxes for free 1. Where can i file 2011 taxes for free Adjusted basis (cost in this example) $18,500 2. Where can i file 2011 taxes for free FMV before storm $17,000 3. Where can i file 2011 taxes for free FMV after storm 200 4. Where can i file 2011 taxes for free Decrease in FMV  (line 2 − line 3) $16,800 5. Where can i file 2011 taxes for free Loss (smaller of line 1 or line 4) $16,800 6. Where can i file 2011 taxes for free Subtract insurance -0- 7. Where can i file 2011 taxes for free Loss after reimbursement $16,800 8. Where can i file 2011 taxes for free Subtract $100 100 9. Where can i file 2011 taxes for free Loss after $100 rule $16,700 10. Where can i file 2011 taxes for free Subtract 10% of $70,000 AGI 7,000 11. Where can i file 2011 taxes for free Casualty loss deduction $ 9,700 Example 2. Where can i file 2011 taxes for free In June, you were involved in an auto accident that totally destroyed your personal car and your antique pocket watch. Where can i file 2011 taxes for free You had bought the car for $30,000. Where can i file 2011 taxes for free The FMV of the car just before the accident was $17,500. Where can i file 2011 taxes for free Its FMV just after the accident was $180 (scrap value). Where can i file 2011 taxes for free Your insurance company reimbursed you $16,000. Where can i file 2011 taxes for free Your watch was not insured. Where can i file 2011 taxes for free You had purchased it for $250. Where can i file 2011 taxes for free Its FMV just before the accident was $500. Where can i file 2011 taxes for free Your adjusted gross income for the year the accident occurred is $97,000. Where can i file 2011 taxes for free Your casualty loss deduction is zero, figured as follows. Where can i file 2011 taxes for free     Car Watch 1. Where can i file 2011 taxes for free Adjusted basis (cost) $30,000 $250 2. Where can i file 2011 taxes for free FMV before accident $17,500 $500 3. Where can i file 2011 taxes for free FMV after accident 180 -0- 4. Where can i file 2011 taxes for free Decrease in FMV (line 2 − line 3) $17,320 $500 5. Where can i file 2011 taxes for free Loss (smaller of line 1 or line 4) $17,320 $250 6. Where can i file 2011 taxes for free Subtract insurance 16,000 -0- 7. Where can i file 2011 taxes for free Loss after reimbursement $1,320 $250 8. Where can i file 2011 taxes for free Total loss $1,570 9. Where can i file 2011 taxes for free Subtract $100 100 10. Where can i file 2011 taxes for free Loss after $100 rule $1,470 11. Where can i file 2011 taxes for free Subtract 10% of $97,000 AGI 9,700 12. Where can i file 2011 taxes for free Casualty loss deduction $ -0- Both real and personal properties. Where can i file 2011 taxes for free   When a casualty involves both real and personal properties, you must figure the loss separately for each type of property. Where can i file 2011 taxes for free However, you apply a single $100 reduction to the total loss. Where can i file 2011 taxes for free Then, you apply the 10% rule to figure the casualty loss deduction. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free In July, a hurricane damaged your home, which cost you $164,000 including land. Where can i file 2011 taxes for free The FMV of the property (both building and land) immediately before the storm was $170,000 and its FMV immediately after the storm was $100,000. Where can i file 2011 taxes for free Your household furnishings were also damaged. Where can i file 2011 taxes for free You separately figured the loss on each damaged household item and arrived at a total loss of $600. Where can i file 2011 taxes for free You collected $50,000 from the insurance company for the damage to your home, but your household furnishings were not insured. Where can i file 2011 taxes for free Your adjusted gross income for the year the hurricane occurred is $65,000. Where can i file 2011 taxes for free You figure your casualty loss deduction from the hurricane in the following manner. Where can i file 2011 taxes for free 1. Where can i file 2011 taxes for free Adjusted basis of real property (cost in this example) $164,000 2. Where can i file 2011 taxes for free FMV of real property before hurricane $170,000 3. Where can i file 2011 taxes for free FMV of real property after hurricane 100,000 4. Where can i file 2011 taxes for free Decrease in FMV of real property (line 2 − line 3) $70,000 5. Where can i file 2011 taxes for free Loss on real property (smaller of line 1 or line 4) $70,000 6. Where can i file 2011 taxes for free Subtract insurance 50,000 7. Where can i file 2011 taxes for free Loss on real property after reimbursement $20,000 8. Where can i file 2011 taxes for free Loss on furnishings $600 9. Where can i file 2011 taxes for free Subtract insurance -0- 10. Where can i file 2011 taxes for free Loss on furnishings after reimbursement $600 11. Where can i file 2011 taxes for free Total loss (line 7 plus line 10) $20,600 12. Where can i file 2011 taxes for free Subtract $100 100 13. Where can i file 2011 taxes for free Loss after $100 rule $20,500 14. Where can i file 2011 taxes for free Subtract 10% of $65,000 AGI 6,500 15. Where can i file 2011 taxes for free Casualty loss deduction $14,000 Property used partly for business and partly for personal purposes. Where can i file 2011 taxes for free   When property is used partly for personal purposes and partly for business or income-producing purposes, the casualty or theft loss deduction must be figured separately for the personal-use portion and for the business or income-producing portion. Where can i file 2011 taxes for free You must figure each loss separately because the losses attributed to these two uses are figured in two different ways. Where can i file 2011 taxes for free When figuring each loss, allocate the total cost or basis, the FMV before and after the casualty or theft loss, and the insurance or other reimbursement between the business and personal use of the property. Where can i file 2011 taxes for free The $100 rule and the 10% rule apply only to the casualty or theft loss on the personal-use portion of the property. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free You own a building that you constructed on leased land. Where can i file 2011 taxes for free You use half of the building for your business and you live in the other half. Where can i file 2011 taxes for free The cost of the building was $400,000. Where can i file 2011 taxes for free You made no further improvements or additions to it. Where can i file 2011 taxes for free A flood in March damaged the entire building. Where can i file 2011 taxes for free The FMV of the building was $380,000 immediately before the flood and $320,000 afterwards. Where can i file 2011 taxes for free Your insurance company reimbursed you $40,000 for the flood damage. Where can i file 2011 taxes for free Depreciation on the business part of the building before the flood totaled $24,000. Where can i file 2011 taxes for free Your adjusted gross income for the year the flood occurred is $125,000. Where can i file 2011 taxes for free You have a deductible business casualty loss of $10,000. Where can i file 2011 taxes for free You do not have a deductible personal casualty loss because of the 10% rule. Where can i file 2011 taxes for free You figure your loss as follows. Where can i file 2011 taxes for free     Business   Personal     Part   Part 1. Where can i file 2011 taxes for free Cost (total $400,000) $200,000   $200,000 2. Where can i file 2011 taxes for free Subtract depreciation 24,000   -0- 3. Where can i file 2011 taxes for free Adjusted basis $176,000   $200,000 4. Where can i file 2011 taxes for free FMV before flood (total $380,000) $190,000   $190,000 5. Where can i file 2011 taxes for free FMV after flood (total $320,000) 160,000   160,000 6. Where can i file 2011 taxes for free Decrease in FMV  (line 4 − line 5) $30,000   $30,000 7. Where can i file 2011 taxes for free Loss (smaller of line 3 or line 6) $30,000   $30,000 8. Where can i file 2011 taxes for free Subtract insurance 20,000   20,000 9. Where can i file 2011 taxes for free Loss after reimbursement $10,000   $10,000 10. Where can i file 2011 taxes for free Subtract $100 on personal-use property -0-   100 11. Where can i file 2011 taxes for free Loss after $100 rule $10,000   $9,900 12. Where can i file 2011 taxes for free Subtract 10% of $125,000 AGI on personal-use property -0-   12,500 13. Where can i file 2011 taxes for free Deductible business loss $10,000     14. Where can i file 2011 taxes for free Deductible personal loss $-0- Figuring a Gain If you receive an insurance payment or other reimbursement that is more than your adjusted basis in the destroyed, damaged, or stolen property, you have a gain from the casualty or theft. Where can i file 2011 taxes for free Your gain is figured as follows. Where can i file 2011 taxes for free The amount you receive (discussed next), minus Your adjusted basis in the property at the time of the casualty or theft. Where can i file 2011 taxes for free See Adjusted Basis , earlier, for information on adjusted basis. Where can i file 2011 taxes for free Even if the decrease in FMV of your property is smaller than the adjusted basis of your property, use your adjusted basis to figure the gain. Where can i file 2011 taxes for free Amount you receive. Where can i file 2011 taxes for free   The amount you receive includes any money plus the value of any property you receive minus any expenses you have in obtaining reimbursement. Where can i file 2011 taxes for free It also includes any reimbursement used to pay off a mortgage or other lien on the damaged, destroyed, or stolen property. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free A hurricane destroyed your personal residence and the insurance company awarded you $145,000. Where can i file 2011 taxes for free You received $140,000 in cash. Where can i file 2011 taxes for free The remaining $5,000 was paid directly to the holder of a mortgage on the property. Where can i file 2011 taxes for free The amount you received includes the $5,000 reimbursement paid on the mortgage. Where can i file 2011 taxes for free Main home destroyed. Where can i file 2011 taxes for free   If you have a gain because your main home was destroyed, you generally can exclude the gain from your income as if you had sold or exchanged your home. Where can i file 2011 taxes for free You may be able to exclude up to $250,000 of the gain (up to $500,000 if married filing jointly). Where can i file 2011 taxes for free To exclude a gain, you generally must have owned and lived in the property as your main home for at least 2 years during the 5-year period ending on the date it was destroyed. Where can i file 2011 taxes for free For information on this exclusion, see Publication 523. Where can i file 2011 taxes for free If your gain is more than the amount you can exclude, but you buy replacement property, you may be able to postpone reporting the excess gain. Where can i file 2011 taxes for free See Postponement of Gain , later. Where can i file 2011 taxes for free Reporting a gain. Where can i file 2011 taxes for free   You generally must report your gain as income in the year you receive the reimbursement. Where can i file 2011 taxes for free However, you do not have to report your gain if you meet certain requirements and choose to postpone reporting the gain according to the rules explained under Postponement of Gain, next. Where can i file 2011 taxes for free   For information on how to report a gain, see How To Report Gains and Losses , later. Where can i file 2011 taxes for free    If you have a casualty or theft gain on personal-use property that you choose to postpone reporting (as explained next) and you also have another casualty or theft loss on personal-use property, do not consider the gain you are postponing when figuring your casualty or theft loss deduction. Where can i file 2011 taxes for free See 10% Rule under Deduction Limits, earlier. Where can i file 2011 taxes for free Postponement of Gain Do not report a gain if you receive reimbursement in the form of property similar or related in service or use to the destroyed or stolen property. Where can i file 2011 taxes for free Your basis in the new property is generally the same as your adjusted basis in the property it replaces. Where can i file 2011 taxes for free You must ordinarily report the gain on your stolen or destroyed property if you receive money or unlike property as reimbursement. Where can i file 2011 taxes for free However, you can choose to postpone reporting the gain if you purchase property that is similar or related in service or use to the stolen or destroyed property within a specified replacement period, discussed later. Where can i file 2011 taxes for free You also can choose to postpone reporting the gain if you purchase a controlling interest (at least 80%) in a corporation owning property that is similar or related in service or use to the property. Where can i file 2011 taxes for free See Controlling interest in a corporation , later. Where can i file 2011 taxes for free If you have a gain on damaged property, you can postpone reporting the gain if you spend the reimbursement to restore the property. Where can i file 2011 taxes for free To postpone reporting all the gain, the cost of your replacement property must be at least as much as the reimbursement you receive. Where can i file 2011 taxes for free If the cost of the replacement property is less than the reimbursement, you must include the gain in your income up to the amount of the unspent reimbursement. Where can i file 2011 taxes for free Example. Where can i file 2011 taxes for free In 1970, you bought an oceanfront cottage for your personal use at a cost of $18,000. Where can i file 2011 taxes for free You made no further improvements or additions to it. Where can i file 2011 taxes for free When a storm destroyed the cottage this January, the cottage was worth $250,000. Where can i file 2011 taxes for free You received $146,000 from the insurance company in March. Where can i file 2011 taxes for free You had a gain of $128,000 ($146,000 − $18,000). Where can i file 2011 taxes for free You spent $144,000 to rebuild the cottage. Where can i file 2011 taxes for free Since this is less than the insurance proceeds received, you must include $2,000 ($146,000 − $144,000) in your income. Where can i file 2011 taxes for free Buying replacement property from a related person. Where can i file 2011 taxes for free   You cannot postpone reporting a gain from a casualty or theft if you buy the replacement property from a related person (discussed later). Where can i file 2011 taxes for free This rule applies to the following taxpayers. Where can i file 2011 taxes for free C corporations. Where can i file 2011 taxes for free Partnerships in which more than 50% of the capital or profits interests is owned by C corporations. Where can i file 2011 taxes for free All others (including individuals, partnerships — other than those in (2) — and S corporations) if the total realized gain for the tax year on all destroyed or stolen properties on which there are realized gains is more than $100,000. Where can i file 2011 taxes for free For casualties and thefts described in (3) above, gains cannot be offset by any losses when determining whether the total gain is more than $100,000. Where can i file 2011 taxes for free If the property is owned by a partnership, the $100,000 limit applies to the partnership and each partner. Where can i file 2011 taxes for free If the property is owned by an S corporation, the $100,000 limit applies to the S corporation and each shareholder. Where can i file 2011 taxes for free Exception. Where can i file 2011 taxes for free   This rule does not apply if the related person acquired the property from an unrelated person within the period of time allowed for replacing the destroyed or stolen property. Where can i file 2011 taxes for free Related persons. Where can i file 2011 taxes for free   Under this rule, related persons include, for example, a parent and child, a brother and sister, a corporation and an individual who owns more than 50% of its outstanding stock, and two partnerships in which the same C corporations own more than 50% of the capital or profits interests. Where can i file 2011 taxes for free For more information on related persons, see Nondeductible Loss under Sales and Exchanges Between Related Persons in chapter 2 of Publication 544. Where can i file 2011 taxes for free Death of a taxpayer. Where can i file 2011 taxes for free   If a taxpayer dies after having a gain but before buying replacement property, the gain must be reported for the year in which the decedent realized the gain. Where can i file 2011 taxes for free The executor of the estate or the person succeeding to the funds from the casualty or theft cannot postpone reporting the gain by buying replacement property. Where can i file 2011 taxes for free Replacement Property You must buy replacement property for the specific purpose of replacing your destroyed or stolen property. Where can i file 2011 taxes for free Property you acquire as a gift or inheritance does not qualify. Where can i file 2011 taxes for free You do not have to use the same funds you receive as