J.K. Lasser's Your Income Tax Professional Edition 2017

Chapter 18 Casualty and Theft Losses and Involuntary Conversions

1. 18.1 Sudden Event Test for Casualty Losses
2. 18.2 When To Deduct a Casualty Loss
3. 18.3 Disaster Losses
4. 18.4 Who May Deduct a Casualty Loss
5. 18.5 Bank Deposit Losses
6. 18.6 Damage to Trees and Shrubs
7. 18.7 Deducting Damage to Your Car
8. 18.8 Proving a Casualty Loss
9. 18.9 Theft Losses
10. 18.10 Proving a Theft Loss
11. 18.11 Nondeductible Casualty and Theft Losses
12. 18.12 Floors for Personal-Use Property Losses
13. 18.13 Figuring Your Loss on Form 4684
14. 18.14 Personal and Business Use of Property
15. 18.15 Repairs May Be a “Measure of Loss”
16. 18.16 Insurance Reimbursements
17. 18.17 Excess Living Costs Paid by Insurance Are Not Taxable
18. 18.18 Do Your Casualty or Theft Losses Exceed Your Income?
19. 18.19 Defer Gain by Replacing Property
20. 18.20 Involuntary Conversions Qualifying for Tax Deferral
21. 18.21 How To Elect To Defer Tax
22. 18.22 Time Period for Buying Replacement Property
23. 18.23 Types of Qualifying Replacement Property
24. 18.24 Cost of Replacement Property Determines Postponed Gain
25. 18.25 Special Assessments and Severance Damages
26. 18.26 Reporting Gains From Casualties

All casualty and theft losses are claimed on Form 4684. The tax treatment of an unreimbursed casualty or theft loss depends on the purpose for which you held the damaged, destroyed, or stolen property. A loss of property held for:

• Personal purposes is subject to the sudden events test (18.1) and a dollar floor (18.12) that reduces the deduction by $100. In addition, net losses for all ...