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Can You File 1040ez Online

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Can You File 1040ez Online

Can you file 1040ez online Publication 547 - Main Content Table of Contents CasualtyFamily pet. Can you file 1040ez online Progressive deterioration. Can you file 1040ez online Special Procedure for Damage From Corrosive Drywall Theft Loss on Deposits Proof of Loss Figuring a LossGain from reimbursement. Can you file 1040ez online Business or income-producing property. Can you file 1040ez online Loss of inventory. Can you file 1040ez online Leased property. Can you file 1040ez online Exception for personal-use real property. Can you file 1040ez online 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. Can you file 1040ez online Lessee's loss. Can you file 1040ez online Disaster Area LossesDisaster loss to inventory. Can you file 1040ez online Main home in disaster area. Can you file 1040ez online Unsafe home. Can you file 1040ez online Time limit for making choice. Can you file 1040ez online Revoking your choice. Can you file 1040ez online Figuring the loss deduction. Can you file 1040ez online How to report the loss on Form 1040X. Can you file 1040ez online Records. Can you file 1040ez online 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. Can you file 1040ez online Property held more than 1 year. Can you file 1040ez online Depreciable property. Can you file 1040ez online 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. Can you file 1040ez online A sudden event is one that is swift, not gradual or progressive. Can you file 1040ez online An unexpected event is one that is ordinarily unanticipated and unintended. Can you file 1040ez online 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. Can you file 1040ez online Generally, casualty losses are deductible during the taxable year that the loss occurred. Can you file 1040ez online See Table 3, later. Can you file 1040ez online Deductible losses. Can you file 1040ez online   Deductible casualty losses can result from a number of different causes, including the following. Can you file 1040ez online Car accidents (but see Nondeductible losses , next, for exceptions). Can you file 1040ez online Earthquakes. Can you file 1040ez online Fires (but see Nondeductible losses , next, for exceptions). Can you file 1040ez online Floods. Can you file 1040ez online Government-ordered demolition or relocation of a home that is unsafe to use because of a disaster as discussed under Disaster Area Losses , later. Can you file 1040ez online Mine cave-ins. Can you file 1040ez online Shipwrecks. Can you file 1040ez online Sonic booms. Can you file 1040ez online Storms, including hurricanes and tornadoes. Can you file 1040ez online Terrorist attacks. Can you file 1040ez online Vandalism. Can you file 1040ez online Volcanic eruptions. Can you file 1040ez online Nondeductible losses. Can you file 1040ez online   A casualty loss is not deductible if the damage or destruction is caused by the following. Can you file 1040ez online Accidentally breaking articles such as glassware or china under normal conditions. Can you file 1040ez online A family pet (explained below). Can you file 1040ez online A fire if you willfully set it, or pay someone else to set it. Can you file 1040ez online A car accident if your willful negligence or willful act caused it. Can you file 1040ez online The same is true if the willful act or willful negligence of someone acting for you caused the accident. Can you file 1040ez online Progressive deterioration (explained below). Can you file 1040ez online However, see Special Procedure for Damage From Corrosive Drywall , later. Can you file 1040ez online Family pet. Can you file 1040ez online   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. Can you file 1040ez online Example. Can you file 1040ez online Your antique oriental rug was damaged by your new puppy before it was housebroken. Can you file 1040ez online Because the damage was not unexpected and unusual, the loss is not deductible as a casualty loss. Can you file 1040ez online Progressive deterioration. Can you file 1040ez online   Loss of property due to progressive deterioration is not deductible as a casualty loss. Can you file 1040ez online This is because the damage results from a steadily operating cause or a normal process, rather than from a sudden event. Can you file 1040ez online The following are examples of damage due to progressive deterioration. Can you file 1040ez online The steady weakening of a building due to normal wind and weather conditions. Can you file 1040ez online The deterioration and damage to a water heater that bursts. Can you file 1040ez online However, the rust and water damage to rugs and drapes caused by the bursting of a water heater does qualify as a casualty. Can you file 1040ez online Most losses of property caused by droughts. Can you file 1040ez online To be deductible, a drought-related loss generally must be incurred in a trade or business or in a transaction entered into for profit. Can you file 1040ez online Termite or moth damage. Can you file 1040ez online The damage or destruction of trees, shrubs, or other plants by a fungus, disease, insects, worms, or similar pests. Can you file 1040ez online However, a sudden destruction due to an unexpected or unusual infestation of beetles or other insects may result in a casualty loss. Can you file 1040ez online 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. Can you file 1040ez online Under this procedure, you treat the amounts paid for repairs as a casualty loss in the year of payment. Can you file 1040ez online 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. Can you file 1040ez online Note. Can you file 1040ez online 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. Can you file 1040ez online S. Can you file 1040ez online Individual Income Tax Return, and attaching a completed Form 4684 for the appropriate year. Can you file 1040ez online Form 4684 for the appropriate year can be found at IRS. Can you file 1040ez online gov. Can you file 1040ez online 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. Can you file 1040ez online Corrosive drywall. Can you file 1040ez online   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. Can you file 1040ez online The revised identification guidance and remediation guidelines are available at www. Can you file 1040ez online cpsc. Can you file 1040ez online gov/Safety-Education/Safety-Education-Centers/Drywall. Can you file 1040ez online Special instructions for completing Form 4684. Can you file 1040ez online   If you choose to follow this special procedure, complete Form 4684, Section A, according to the instructions below. Can you file 1040ez online 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. Can you file 1040ez online Top margin of Form 4684. Can you file 1040ez online   Enter “Revenue Procedure 2010-36”. Can you file 1040ez online Line 1. Can you file 1040ez online   Enter the information required by the line 1 instructions. Can you file 1040ez online Line 2. Can you file 1040ez online   Skip this line. Can you file 1040ez online Line 3. Can you file 1040ez online   Enter the amount of insurance or other reimbursements you received (including through litigation). Can you file 1040ez online If none, enter -0-. Can you file 1040ez online Lines 4–7. Can you file 1040ez online   Skip these lines. Can you file 1040ez online Line 8. Can you file 1040ez online   Enter the amount you paid to repair the damage to your home and household appliances due to corrosive drywall. Can you file 1040ez online Enter only the amounts you paid to restore your home to the condition existing immediately before the damage. Can you file 1040ez online Do not enter any amounts you paid for improvements or additions that increased the value of your home above its pre-loss value. Can you file 1040ez online 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). Can you file 1040ez online Line 9. Can you file 1040ez online   If line 8 is more than line 3, do one of the following. Can you file 1040ez online If you have a pending claim for reimbursement (or you intend to pursue reimbursement), enter 75% of the difference between lines 3 and 8. Can you file 1040ez online If item (1) does not apply to you, enter the full amount of the difference between lines 3 and 8. Can you file 1040ez online If line 8 is less than or equal to line 3, you cannot claim a casualty loss deduction using this special procedure. Can you file 1040ez online    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. Can you file 1040ez online See Reimbursement Received After Deducting Loss, later. Can you file 1040ez online Lines 10–18. Can you file 1040ez online   Complete these lines according to the Instructions for Form 4684. Can you file 1040ez online Choosing not to follow this special procedure. Can you file 1040ez online   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. Can you file 1040ez online 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 . Can you file 1040ez online Furthermore, you must have proof that shows the following. Can you file 1040ez online The loss is properly deductible in the tax year you claimed it and not in some other year. Can you file 1040ez online See When To Report Gains and Losses , later. Can you file 1040ez online The amount of the claimed loss. Can you file 1040ez online See Proof of Loss , later. Can you file 1040ez online No claim for reimbursement of any portion of the loss exists for which there is a reasonable prospect of recovery. Can you file 1040ez online See When To Report Gains and Losses , later. Can you file 1040ez online Theft A theft is the taking and removing of money or property with the intent to deprive the owner of it. Can you file 1040ez online 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. Can you file 1040ez online You do not need to show a conviction for theft. Can you file 1040ez online Theft includes the taking of money or property by the following means. Can you file 1040ez online Blackmail. Can you file 1040ez online Burglary. Can you file 1040ez online Embezzlement. Can you file 1040ez online Extortion. Can you file 1040ez online Kidnapping for ransom. Can you file 1040ez online Larceny. Can you file 1040ez online Robbery. Can you file 1040ez online The taking of money or property through fraud or misrepresentation is theft if it is illegal under state or local law. Can you file 1040ez online Decline in market value of stock. Can you file 1040ez online   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. Can you file 1040ez online 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. Can you file 1040ez online You report a capital loss on Schedule D (Form 1040). Can you file 1040ez online For more information about stock sales, worthless stock, and capital losses, see chapter 4 of Publication 550. Can you file 1040ez online Mislaid or lost property. Can you file 1040ez online    The simple disappearance of money or property is not a theft. Can you file 1040ez online 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. Can you file 1040ez online Sudden, unexpected, and unusual events were defined earlier under Casualty . Can you file 1040ez online Example. Can you file 1040ez online A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. Can you file 1040ez online The diamond falls from the ring and is never found. Can you file 1040ez online The loss of the diamond is a casualty. Can you file 1040ez online Losses from Ponzi-type investment schemes. Can you file 1040ez online   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. Can you file 1040ez online R. Can you file 1040ez online B. Can you file 1040ez online 735 (available at www. Can you file 1040ez online irs. Can you file 1040ez online gov/irb/2009-14_IRB/ar07. Can you file 1040ez online html). Can you file 1040ez online Revenue Procedure 2009-20, 2009-14 I. Can you file 1040ez online R. Can you file 1040ez online B. Can you file 1040ez online 749 (available at www. Can you file 1040ez online irs. Can you file 1040ez online gov/irb/2009-14_IRB/ar11. Can you file 1040ez online html). Can you file 1040ez online Revenue Procedure 2011-58, 2011-50 I. Can you file 1040ez online R. Can you file 1040ez online B. Can you file 1040ez online 847 (available at www. Can you file 1040ez online irs. Can you file 1040ez online gov/irb/2011-50_IRB/ar11. Can you file 1040ez online html). Can you file 1040ez online 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. Can you file 1040ez online Skip lines 19 to 27, but you must fill out Section B, lines 29 to 39, as appropriate. Can you file 1040ez online Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. Can you file 1040ez online You do not need to complete Appendix A. Can you file 1040ez online For more information, see the above revenue ruling and revenue procedures, and the Instructions for Form 4684. Can you file 1040ez online   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. Can you file 1040ez online Loss on Deposits A loss on deposits can occur when a bank, credit union, or other financial institution becomes insolvent or bankrupt. Can you file 1040ez online If you incurred this type of loss, you can choose one of the following ways to deduct the loss. Can you file 1040ez online As a casualty loss. Can you file 1040ez online As an ordinary loss. Can you file 1040ez online As a nonbusiness bad debt. Can you file 1040ez online Casualty loss or ordinary loss. Can you file 1040ez online   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. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online Once you make the choice, you cannot change it without permission from the Internal Revenue Service. Can you file 1040ez online   If you claim an ordinary loss, report it as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23. Can you file 1040ez online The maximum amount you can claim is $20,000 ($10,000 if you are married filing separately) reduced by any expected state insurance proceeds. Can you file 1040ez online Your loss is subject to the 2%-of-adjusted-gross-income limit. Can you file 1040ez online You cannot choose to claim an ordinary loss if any part of the deposit is federally insured. Can you file 1040ez online Nonbusiness bad debt. Can you file 1040ez online   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. Can you file 1040ez online How to report. Can you file 1040ez online   The kind of deduction you choose for your loss on deposits determines how you report your loss. Can you file 1040ez online See Table 1. Can you file 1040ez online More information. Can you file 1040ez online   For more information, see Special Treatment for Losses on Deposits in Insolvent or Bankrupt Financial Institutions in the Instructions for Form 4684. Can you file 1040ez online Deducted loss recovered. Can you file 1040ez online   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. Can you file 1040ez online 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. Can you file 1040ez online For more information, see Recoveries in Publication 525. Can you file 1040ez online Proof of Loss To deduct a casualty or theft loss, you must be able to show that there was a casualty or theft. Can you file 1040ez online You also must be able to support the amount you take as a deduction. Can you file 1040ez online Casualty loss proof. Can you file 1040ez online   For a casualty loss, you should be able to show all of the following. Can you file 1040ez online The type of casualty (car accident, fire, storm, etc. Can you file 1040ez online ) and when it occurred. Can you file 1040ez online That the loss was a direct result of the casualty. Can you file 1040ez online 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. Can you file 1040ez online Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Can you file 1040ez online Theft loss proof. Can you file 1040ez online   For a theft loss, you should be able to show all of the following. Can you file 1040ez online When you discovered that your property was missing. Can you file 1040ez online That your property was stolen. Can you file 1040ez online That you were the owner of the property. Can you file 1040ez online Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Can you file 1040ez online    It is important that you have records that will prove your deduction. Can you file 1040ez online If you do not have the actual records to support your deduction, you can use other satisfactory evidence to support it. Can you file 1040ez online Figuring a Loss To determine your deduction for a casualty or theft loss, you must first figure your loss. Can you file 1040ez online Table 1. Can you file 1040ez online Reporting Loss on Deposits IF you choose to report the loss as a(n). Can you file 1040ez online . Can you file 1040ez online . Can you file 1040ez online   THEN report it on. Can you file 1040ez online . Can you file 1040ez online . Can you file 1040ez online casualty loss   Form 4684 and Schedule A  (Form 1040). Can you file 1040ez online ordinary loss   Schedule A (Form 1040). Can you file 1040ez online nonbusiness bad debt   Form 8949 and Schedule D (Form 1040). Can you file 1040ez online Amount of loss. Can you file 1040ez online   Figure the amount of your loss using the following steps. Can you file 1040ez online Determine your adjusted basis in the property before the casualty or theft. Can you file 1040ez online Determine the decrease in fair market value (FMV) of the property as a result of the casualty or theft. Can you file 1040ez online From the smaller of the amounts you determined in (1) and (2), subtract any insurance or other reimbursement you received or expect to receive. Can you file 1040ez online 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. Can you file 1040ez online Gain from reimbursement. Can you file 1040ez online   If your reimbursement is more than your adjusted basis in the property, you have a gain. Can you file 1040ez online This is true even if the decrease in the FMV of the property is smaller than your adjusted basis. Can you file 1040ez online If you have a gain, you may have to pay tax on it, or you may be able to postpone reporting the gain. Can you file 1040ez online See Figuring a Gain , later. Can you file 1040ez online Business or income-producing property. Can you file 1040ez online   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. Can you file 1040ez online 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. Can you file 1040ez online   There are two ways you can deduct a casualty or theft loss of inventory, including items you hold for sale to customers. Can you file 1040ez online   One way is to deduct the loss through the increase in the cost of goods sold by properly reporting your opening and closing inventories. Can you file 1040ez online Do not claim this loss again as a casualty or theft loss. Can you file 1040ez online 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. Can you file 1040ez online   The other way is to deduct the loss separately. Can you file 1040ez online 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. Can you file 1040ez online Reduce the loss by the reimbursement you received. Can you file 1040ez online Do not include the reimbursement in gross income. Can you file 1040ez online 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. Can you file 1040ez online Leased property. Can you file 1040ez online   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. Can you file 1040ez online Separate computations. Can you file 1040ez online   Generally, if a single casualty or theft involves more than one item of property, you must figure the loss on each item separately. Can you file 1040ez online Then combine the losses to determine the total loss from that casualty or theft. Can you file 1040ez online Exception for personal-use real property. Can you file 1040ez online   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. Can you file 1040ez online Figure the loss using the smaller of the following. Can you file 1040ez online The decrease in FMV of the entire property. Can you file 1040ez online The adjusted basis of the entire property. Can you file 1040ez online   See Real property under Figuring the Deduction, later. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online FMV of stolen property. Can you file 1040ez online   The FMV of property immediately after a theft is considered to be zero because you no longer have the property. Can you file 1040ez online Example. Can you file 1040ez online Several years ago, you purchased silver dollars at face value for $150. Can you file 1040ez online This is your adjusted basis in the property. Can you file 1040ez online Your silver dollars were stolen this year. Can you file 1040ez online The FMV of the coins was $1,000 just before they were stolen, and insurance did not cover them. Can you file 1040ez online Your theft loss is $150. Can you file 1040ez online Recovered stolen property. Can you file 1040ez online   Recovered stolen property is your property that was stolen and later returned to you. Can you file 1040ez online 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. Can you file 1040ez online Use this amount to refigure your total loss for the year in which the loss was deducted. Can you file 1040ez online   If your refigured loss is less than the loss you deducted, you generally have to report the difference as income in the recovery year. Can you file 1040ez online But report the difference only up to the amount of the loss that reduced your tax. Can you file 1040ez online For more information on the amount to report, see Recoveries in Publication 525. Can you file 1040ez online 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. Can you file 1040ez online However, other measures also can be used to establish certain decreases. Can you file 1040ez online See Appraisal and Cost of cleaning up or making repairs , next. Can you file 1040ez online Appraisal. Can you file 1040ez online   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. Can you file 1040ez online The appraiser must recognize the effects of any general market decline that may occur along with the casualty. Can you file 1040ez online This information is needed to limit any deduction to the actual loss resulting from damage to the property. Can you file 1040ez online   Several factors are important in evaluating the accuracy of an appraisal, including the following. Can you file 1040ez online The appraiser's familiarity with your property before and after the casualty or theft. Can you file 1040ez online The appraiser's knowledge of sales of comparable property in the area. Can you file 1040ez online The appraiser's knowledge of conditions in the area of the casualty. Can you file 1040ez online The appraiser's method of appraisal. Can you file 1040ez online 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. Can you file 1040ez online For more information on disasters, see Disaster Area Losses, later. Can you file 1040ez online Cost of cleaning up or making repairs. Can you file 1040ez online   The cost of repairing damaged property is not part of a casualty loss. Can you file 1040ez online Neither is the cost of cleaning up after a casualty. Can you file 1040ez online 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. Can you file 1040ez online The repairs are actually made. Can you file 1040ez online The repairs are necessary to bring the property back to its condition before the casualty. Can you file 1040ez online The amount spent for repairs is not excessive. Can you file 1040ez online The repairs take care of the damage only. Can you file 1040ez online The value of the property after the repairs is not, due to the repairs, more than the value of the property before the casualty. Can you file 1040ez online Landscaping. Can you file 1040ez online   The cost of restoring landscaping to its original condition after a casualty may indicate the decrease in FMV. Can you file 1040ez online You may be able to measure your loss by what you spend on the following. Can you file 1040ez online Removing destroyed or damaged trees and shrubs, minus any salvage you receive. Can you file 1040ez online Pruning and other measures taken to preserve damaged trees and shrubs. Can you file 1040ez online Replanting necessary to restore the property to its approximate value before the casualty. Can you file 1040ez online Car value. Can you file 1040ez online   Books issued by various automobile organizations that list your car may be useful in figuring the value of your car. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online If your car is not listed in the books, determine its value from other sources. Can you file 1040ez online A dealer's offer for your car as a trade-in on a new car is not usually a measure of its true value. Can you file 1040ez online 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. Can you file 1040ez online Cost of protection. Can you file 1040ez online   The cost of protecting your property against a casualty or theft is not part of a casualty or theft loss. Can you file 1040ez online The amount you spend on insurance or to board up your house against a storm is not part of your loss. Can you file 1040ez online If the property is business property, these expenses are deductible as business expenses. Can you file 1040ez online   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. Can you file 1040ez online An example would be the cost of a dike to prevent flooding. Can you file 1040ez online Exception. Can you file 1040ez online   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 ). Can you file 1040ez online Related expenses. Can you file 1040ez online   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. Can you file 1040ez online However, they may be deductible as business expenses if the damaged or stolen property is business property. Can you file 1040ez online Replacement cost. Can you file 1040ez online   The cost of replacing stolen or destroyed property is not part of a casualty or theft loss. Can you file 1040ez online Example. Can you file 1040ez online You bought a new chair 4 years ago for $300. Can you file 1040ez online In April, a fire destroyed the chair. Can you file 1040ez online You estimate that it would cost $500 to replace it. Can you file 1040ez online 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. Can you file 1040ez online The chair was not insured. Can you file 1040ez online Your loss is $100, the FMV of the chair before the fire. Can you file 1040ez online It is not $500, the replacement cost. Can you file 1040ez online Sentimental value. Can you file 1040ez online   Do not consider sentimental value when determining your loss. Can you file 1040ez online 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. Can you file 1040ez online Decline in market value of property in or near casualty area. Can you file 1040ez online   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. Can you file 1040ez online You have a loss only for actual casualty damage to your property. Can you file 1040ez online However, if your home is in a federally declared disaster area, see Disaster Area Losses , later. Can you file 1040ez online Costs of photographs and appraisals. Can you file 1040ez online   Photographs taken after a casualty will be helpful in establishing the condition and value of the property after it was damaged. Can you file 1040ez online Photographs showing the condition of the property after it was repaired, restored, or replaced may also be helpful. Can you file 1040ez online   Appraisals are used to figure the decrease in FMV because of a casualty or theft. Can you file 1040ez online See Appraisal , earlier, under Figuring Decrease in FMV — Items To Consider, for information about appraisals. Can you file 1040ez online   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. Can you file 1040ez online They are expenses in determining your tax liability. Can you file 1040ez online You can claim these costs as a miscellaneous itemized deduction subject to the 2%-of-adjusted-gross-income limit on Schedule A (Form 1040). Can you file 1040ez online Adjusted Basis The measure of your investment in the property you own is its basis. Can you file 1040ez online For property you buy, your basis is usually its cost to you. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online Adjustments to basis. Can you file 1040ez online    While you own the property, various events may take place that change your basis. Can you file 1040ez online Some events, such as additions or permanent improvements to the property, increase basis. Can you file 1040ez online Others, such as earlier casualty losses and depreciation deductions, decrease basis. Can you file 1040ez online When you add the increases to the basis and subtract the decreases from the basis, the result is your adjusted basis. Can you file 1040ez online See Publication 551 for more information on figuring the basis of your property. Can you file 1040ez online Insurance and Other Reimbursements If you receive an insurance or other type of reimbursement, you must subtract the reimbursement when you figure your loss. Can you file 1040ez online You do not have a casualty or theft loss to the extent you are reimbursed. Can you file 1040ez online If you expect to be reimbursed for part or all of your loss, you must subtract the expected reimbursement when you figure your loss. Can you file 1040ez online You must reduce your loss even if you do not receive payment until a later tax year. Can you file 1040ez online See Reimbursement Received After Deducting Loss , later. Can you file 1040ez online Failure to file a claim for reimbursement. Can you file 1040ez online   If your property is covered by insurance, you must file a timely insurance claim for reimbursement of your loss. Can you file 1040ez online Otherwise, you cannot deduct this loss as a casualty or theft. Can you file 1040ez online The portion of the loss usually not covered by insurance (for example, a deductible) is not subject to this rule. Can you file 1040ez online Example. Can you file 1040ez online You have a car insurance policy with a $1,000 deductible. Can you file 1040ez online 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). Can you file 1040ez online This is true, even if you do not file an insurance claim, because your insurance policy would never have reimbursed you for the deductible. Can you file 1040ez online Types of Reimbursements The most common type of reimbursement is an insurance payment for your stolen or damaged property. Can you file 1040ez online Other types of reimbursements are discussed next. Can you file 1040ez online Also see the Instructions for Form 4684. Can you file 1040ez online Employer's emergency disaster fund. Can you file 1040ez online   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. Can you file 1040ez online Take into consideration only the amount you used to replace your destroyed or damaged property. Can you file 1040ez online Example. Can you file 1040ez online Your home was extensively damaged by a tornado. Can you file 1040ez online Your loss after reimbursement from your insurance company was $10,000. Can you file 1040ez online Your employer set up a disaster relief fund for its employees. Can you file 1040ez online Employees receiving money from the fund had to use it to rehabilitate or replace their damaged or destroyed property. Can you file 1040ez online You received $4,000 from the fund and spent the entire amount on repairs to your home. Can you file 1040ez online In figuring your casualty loss, you must reduce your unreimbursed loss ($10,000) by the $4,000 you received from your employer's fund. Can you file 1040ez online Your casualty loss before applying the deduction limits (discussed later) is $6,000. Can you file 1040ez online Cash gifts. Can you file 1040ez online   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. Can you file 1040ez online This applies even if you use the money to pay for repairs to property damaged in the disaster. Can you file 1040ez online Example. Can you file 1040ez online Your home was damaged by a hurricane. Can you file 1040ez online Relatives and neighbors made cash gifts to you that were excludable from your income. Can you file 1040ez online You used part of the cash gifts to pay for repairs to your home. Can you file 1040ez online There were no limits or restrictions on how you could use the cash gifts. Can you file 1040ez online 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. Can you file 1040ez online Insurance payments for living expenses. Can you file 1040ez online   You do not reduce your casualty loss by insurance payments you receive to cover living expenses in either of the following situations. Can you file 1040ez online You lose the use of your main home because of a casualty. Can you file 1040ez online Government authorities do not allow you access to your main home because of a casualty or threat of one. Can you file 1040ez online Inclusion in income. Can you file 1040ez online   If these insurance payments are more than the temporary increase in your living expenses, you must include the excess in your income. Can you file 1040ez online Report this amount on Form 1040, line 21. Can you file 1040ez online However, if the casualty occurs in a federally declared disaster area, none of the insurance payments are taxable. Can you file 1040ez online See Qualified disaster relief payments , later, under Disaster Area Losses. Can you file 1040ez online   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. Can you file 1040ez online Actual living expenses are the reasonable and necessary expenses incurred because of the loss of your main home. Can you file 1040ez online Generally, these expenses include the amounts you pay for the following. Can you file 1040ez online Renting suitable housing. Can you file 1040ez online Transportation. Can you file 1040ez online Food. Can you file 1040ez online Utilities. Can you file 1040ez online Miscellaneous services. Can you file 1040ez online 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. Can you file 1040ez online Example. Can you file 1040ez online As a result of a fire, you vacated your apartment for a month and moved to a motel. Can you file 1040ez online You normally pay $525 a month for rent. Can you file 1040ez online None was charged for the month the apartment was vacated. Can you file 1040ez online Your motel rent for this month was $1,200. Can you file 1040ez online You normally pay $200 a month for food. Can you file 1040ez online Your food expenses for the month you lived in the motel were $400. Can you file 1040ez online You received $1,100 from your insurance company to cover your living expenses. Can you file 1040ez online You determine the payment you must include in income as follows. Can you file 1040ez online 1. Can you file 1040ez online Insurance payment for living expenses $1,100 2. Can you file 1040ez online Actual expenses during the month you are unable to use your home because of the fire $1,600   3. Can you file 1040ez online Normal living expenses 725   4. Can you file 1040ez online Temporary increase in living expenses: Subtract line 3  from line 2 875 5. Can you file 1040ez online Amount of payment includible in income: Subtract line 4 from line 1 $ 225 Tax year of inclusion. Can you file 1040ez online   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. Can you file 1040ez online Example. Can you file 1040ez online Your main home was destroyed by a tornado in August 2011. Can you file 1040ez online You regained use of your home in November 2012. Can you file 1040ez online The insurance payments you received in 2011 and 2012 were $1,500 more than the temporary increase in your living expenses during those years. Can you file 1040ez online You include this amount in income on your 2012 Form 1040. Can you file 1040ez online 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. Can you file 1040ez online Disaster relief. Can you file 1040ez online   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. Can you file 1040ez online Table 2. Can you file 1040ez online 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. Can you file 1040ez online Apply this rule to personal-use property after you have figured the amount of your loss. Can you file 1040ez online You must reduce your total casualty or theft loss by 10% of your adjusted gross income. Can you file 1040ez online Apply this rule to personal-use property after you reduce each loss by $100 (the $100 rule). Can you file 1040ez online You must reduce your total casualty or theft loss by 2% of your adjusted gross income. Can you file 1040ez online 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. Can you file 1040ez online Single Event Apply this rule only once, even if many pieces of property are affected. Can you file 1040ez online Apply this rule only once, even if many pieces of property are affected. Can you file 1040ez online Apply this rule only once, even if many pieces of property are affected. Can you file 1040ez online More Than One Event Apply to the loss from each event. Can you file 1040ez online Apply to the total of all your losses from all events. Can you file 1040ez online Apply to the total of all your losses from all events. Can you file 1040ez online More Than One Person— With Loss From the   Same Event  (other than a married couple  filing jointly) Apply separately to each person. Can you file 1040ez online Apply separately to each person. Can you file 1040ez online Apply separately to each person. Can you file 1040ez online Married Couple—  With Loss From the  Same Event Filing Joint Return Apply as if you were one person. Can you file 1040ez online Apply as if you were one person. Can you file 1040ez online Apply as if you were one person. Can you file 1040ez online Filing Separate Return Apply separately to each spouse. Can you file 1040ez online Apply separately to each spouse. Can you file 1040ez online Apply separately to each spouse. Can you file 1040ez online More Than One Owner (other than a married couple filing jointly) Apply separately to each owner of jointly owned property. Can you file 1040ez online Apply separately to each owner of jointly owned property. Can you file 1040ez online Apply separately to each owner of jointly owned property. Can you file 1040ez online    Qualified disaster relief payments you receive for expenses you incurred as a result of a federally declared disaster, are not taxable income to you. Can you file 1040ez online For more information, see Qualified disaster relief payments under Disaster Area Losses, later. Can you file 1040ez online   Disaster unemployment assistance payments are unemployment benefits that are taxable. Can you file 1040ez online   Generally, disaster relief grants received under the Robert T. Can you file 1040ez online Stafford Disaster Relief and Emergency Assistance Act are not included in your income. Can you file 1040ez online See Federal disaster relief grants , later, under Disaster Area Losses. Can you file 1040ez online Loan proceeds. Can you file 1040ez online   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. Can you file 1040ez online If you have a federal loan that is canceled (forgiven), see Federal loan canceled , later, under Disaster Area Losses. Can you file 1040ez online 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. Can you file 1040ez online This section explains the adjustment you may have to make. Can you file 1040ez online Actual reimbursement less than expected. Can you file 1040ez online   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. Can you file 1040ez online Example. Can you file 1040ez online Your personal car had a FMV of $2,000 when it was destroyed in a collision with another car in 2012. Can you file 1040ez online The accident was due to the negligence of the other driver. Can you file 1040ez online At the end of 2012, there was a reasonable prospect that the owner of the other car would reimburse you in full. Can you file 1040ez online You did not have a deductible loss in 2012. Can you file 1040ez online In January 2013, the court awards you a judgment of $2,000. Can you file 1040ez online However, in July it becomes apparent that you will be unable to collect any amount from the other driver. Can you file 1040ez online 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). Can you file 1040ez online Actual reimbursement more than expected. Can you file 1040ez online   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. Can you file 1040ez online 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. Can you file 1040ez online You do not refigure your tax for the year you claimed the deduction. Can you file 1040ez online See Recoveries in Publication 525 to find out how much extra reimbursement to include in income. Can you file 1040ez online Example. Can you file 1040ez online In 2012, a hurricane destroyed your motorboat. Can you file 1040ez online Your loss was $3,000, and you estimated that your insurance would cover $2,500 of it. Can you file 1040ez online You did not itemize deductions on your 2012 return, so you could not deduct the loss. Can you file 1040ez online When the insurance company reimburses you for the loss, you do not report any of the reimbursement as income. Can you file 1040ez online This is true even if it is for the full $3,000 because you did not deduct the loss on your 2012 return. Can you file 1040ez online The loss did not reduce your tax. Can you file 1040ez online    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. Can you file 1040ez online 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. Can you file 1040ez online Include the gain as ordinary income up to the amount of your deduction that reduced your tax for the earlier year. Can you file 1040ez online You may be able to postpone reporting any remaining gain as explained under Postponement of Gain, later. Can you file 1040ez online Actual reimbursement same as expected. Can you file 1040ez online   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. Can you file 1040ez online Example. Can you file 1040ez online In December 2013, you had a collision while driving your personal car. Can you file 1040ez online Repairs to the car cost $950. Can you file 1040ez online You had $100 deductible collision insurance. Can you file 1040ez online Your insurance company agreed to reimburse you for the rest of the damage. Can you file 1040ez online Because you expected a reimbursement from the insurance company, you did not have a casualty loss deduction in 2013. Can you file 1040ez online Due to the $100 rule, you cannot deduct the $100 you paid as the deductible. Can you file 1040ez online When you receive the $850 from the insurance company in 2014, do not report it as income. Can you file 1040ez online Deduction Limits After you have figured your casualty or theft loss, you must figure how much of the loss you can deduct. Can you file 1040ez online The deduction for casualty and theft losses of employee property and personal-use property is limited. Can you file 1040ez online A loss on employee property is subject to the 2% rule, discussed next. Can you file 1040ez online With certain exceptions, a loss on property you own for your personal use is subject to the $100 and 10% rules, discussed later. Can you file 1040ez online The 2%, $100, and 10% rules are also summarized in Table 2 . Can you file 1040ez online Losses on business property (other than employee property) and income-producing property are not subject to these rules. Can you file 1040ez online However, if your casualty or theft loss involved a home you used for business or rented out, your deductible loss may be limited. Can you file 1040ez online See the Instructions for Form 4684, Section B. Can you file 1040ez online If the casualty or theft loss involved property used in a passive activity, see Form 8582, Passive Activity Loss Limitations, and its instructions. Can you file 1040ez online 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. Can you file 1040ez online Employee property is property used in performing services as an employee. Can you file 1040ez online $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. Can you file 1040ez online This reduction applies to each total casualty or theft loss. Can you file 1040ez online It does not matter how many pieces of property are involved in an event. Can you file 1040ez online Only a single $100 reduction applies. Can you file 1040ez online Example. Can you file 1040ez online You have $750 deductible collision insurance on your car. Can you file 1040ez online The car is damaged in a collision. Can you file 1040ez online The insurance company pays you for the damage minus the $750 deductible. Can you file 1040ez online The amount of the casualty loss is based solely on the deductible. Can you file 1040ez online The casualty loss is $650 ($750 − $100) because the first $100 of a casualty loss on personal-use property is not deductible. Can you file 1040ez online Single event. Can you file 1040ez online   Generally, events closely related in origin cause a single casualty. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online Example 1. Can you file 1040ez online A thunderstorm destroyed your pleasure boat. Can you file 1040ez online You also lost some boating equipment in the storm. Can you file 1040ez online Your loss was $5,000 on the boat and $1,200 on the equipment. Can you file 1040ez online Your insurance company reimbursed you $4,500 for the damage to your boat. Can you file 1040ez online You had no insurance coverage on the equipment. Can you file 1040ez online Your casualty loss is from a single event and the $100 rule applies once. Can you file 1040ez online Figure your loss before applying the 10% rule (discussed later) as follows. Can you file 1040ez online     Boat Equipment 1. Can you file 1040ez online Loss $5,000 $1,200 2. Can you file 1040ez online Subtract insurance 4,500 -0- 3. Can you file 1040ez online Loss after reimbursement $ 500 $1,200 4. Can you file 1040ez online Total loss $1,700 5. Can you file 1040ez online Subtract $100 100 6. Can you file 1040ez online Loss before 10% rule $1,600 Example 2. Can you file 1040ez online Thieves broke into your home in January and stole a ring and a fur coat. Can you file 1040ez online You had a loss of $200 on the ring and $700 on the coat. Can you file 1040ez online This is a single theft. Can you file 1040ez online The $100 rule applies to the total $900 loss. Can you file 1040ez online Example 3. Can you file 1040ez online In September, hurricane winds blew the roof off your home. Can you file 1040ez online Flood waters caused by the hurricane further damaged your home and destroyed your furniture and personal car. Can you file 1040ez online This is considered a single casualty. Can you file 1040ez online The $100 rule is applied to your total loss from the flood waters and the wind. Can you file 1040ez online More than one loss. Can you file 1040ez online   If you have more than one casualty or theft loss during your tax year, you must reduce each loss by $100. Can you file 1040ez online Example. Can you file 1040ez online Your family car was damaged in an accident in January. Can you file 1040ez online Your loss after the insurance reimbursement was $75. Can you file 1040ez online In February, your car was damaged in another accident. Can you file 1040ez online This time your loss after the insurance reimbursement was $90. Can you file 1040ez online Apply the $100 rule to each separate casualty loss. Can you file 1040ez online Since neither accident resulted in a loss of over $100, you are not entitled to any deduction for these accidents. Can you file 1040ez online More than one person. Can you file 1040ez online   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. Can you file 1040ez online Example. Can you file 1040ez online A fire damaged your house and also damaged the personal property of your house guest. Can you file 1040ez online You must reduce your loss by $100. Can you file 1040ez online Your house guest must reduce his or her loss by $100. Can you file 1040ez online Married taxpayers. Can you file 1040ez online   If you and your spouse file a joint return, you are treated as one individual in applying the $100 rule. Can you file 1040ez online It does not matter whether you own the property jointly or separately. Can you file 1040ez online   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. Can you file 1040ez online This is true even if you own the property jointly. Can you file 1040ez online If one spouse owns the property, only that spouse can figure a loss deduction on a separate return. Can you file 1040ez online   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. Can you file 1040ez online Neither of you can figure your deduction on the entire loss on a separate return. Can you file 1040ez online Each of you must reduce the loss by $100. Can you file 1040ez online More than one owner. Can you file 1040ez online   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. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online Apply this rule after you reduce each loss by $100. Can you file 1040ez online For more information, see the Form 4684 instructions. Can you file 1040ez online If you have both gains and losses from casualties or thefts, see Gains and losses , later in this discussion. Can you file 1040ez online Example. Can you file 1040ez online In June, you discovered that your house had been burglarized. Can you file 1040ez online Your loss after insurance reimbursement was $2,000. Can you file 1040ez online Your adjusted gross income for the year you discovered the theft is $29,500. Can you file 1040ez online Figure your theft loss as follows. Can you file 1040ez online 1. Can you file 1040ez online Loss after insurance $2,000 2. Can you file 1040ez online Subtract $100 100 3. Can you file 1040ez online Loss after $100 rule $1,900 4. Can you file 1040ez online Subtract 10% of $29,500 AGI $2,950 5. Can you file 1040ez online 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). Can you file 1040ez online More than one loss. Can you file 1040ez online   If you have more than one casualty or theft loss during your tax year, reduce each loss by any reimbursement and by $100. Can you file 1040ez online Then you must reduce the total of all your losses by 10% of your adjusted gross income. Can you file 1040ez online Example. Can you file 1040ez online In March, you had a car accident that totally destroyed your car. Can you file 1040ez online You did not have collision insurance on your car, so you did not receive any insurance reimbursement. Can you file 1040ez online Your loss on the car was $1,800. Can you file 1040ez online In November, a fire damaged your basement and totally destroyed the furniture, washer, dryer, and other items you had stored there. Can you file 1040ez online Your loss on the basement items after reimbursement was $2,100. Can you file 1040ez online Your adjusted gross income for the year that the accident and fire occurred is $25,000. Can you file 1040ez online You figure your casualty loss deduction as follows. Can you file 1040ez online     Car Basement 1. Can you file 1040ez online Loss $1,800 $2,100 2. Can you file 1040ez online Subtract $100 per incident 100 100 3. Can you file 1040ez online Loss after $100 rule $1,700 $2,000 4. Can you file 1040ez online Total loss $3,700 5. Can you file 1040ez online Subtract 10% of $25,000 AGI 2,500 6. Can you file 1040ez online Casualty loss deduction $1,200 Married taxpayers. Can you file 1040ez online   If you and your spouse file a joint return, you are treated as one individual in applying the 10% rule. Can you file 1040ez online It does not matter if you own the property jointly or separately. Can you file 1040ez online   If you file separate returns, the 10% rule applies to each return on which a loss is claimed. Can you file 1040ez online More than one owner. Can you file 1040ez online   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. Can you file 1040ez online Gains and losses. Can you file 1040ez online   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. Can you file 1040ez online 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. Can you file 1040ez online Casualty or theft gains do not include gains you choose to postpone. Can you file 1040ez online See Postponement of Gain, later. Can you file 1040ez online Losses more than gains. Can you file 1040ez online   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. Can you file 1040ez online The rest, if any, is your deductible loss from personal-use property. Can you file 1040ez online Example. Can you file 1040ez online Your theft loss after reducing it by reimbursements and by $100 is $2,700. Can you file 1040ez online Your casualty gain is $700. Can you file 1040ez online 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. Can you file 1040ez online Gains more than losses. Can you file 1040ez online   If your recognized gains are more than your losses, subtract your losses from your gains. Can you file 1040ez online The difference is treated as a capital gain and must be reported on Schedule D (Form 1040). Can you file 1040ez online The 10% rule does not apply to your gains. Can you file 1040ez online Example. Can you file 1040ez online Your theft loss is $600 after reducing it by reimbursements and by $100. Can you file 1040ez online Your casualty gain is $1,600. Can you file 1040ez online Because your gain is more than your loss, you must report the $1,000 net gain ($1,600 − $600) on Schedule D (Form 1040). Can you file 1040ez online More information. Can you file 1040ez online   For information on how to figure recognized gains, see Figuring a Gain , later. Can you file 1040ez online Figuring the Deduction Generally, you must figure your loss separately for each item stolen, damaged, or destroyed. Can you file 1040ez online However, a special rule applies to real property you own for personal use. Can you file 1040ez online Real property. Can you file 1040ez online   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. Can you file 1040ez online Example 1. Can you file 1040ez online In June, a fire destroyed your lakeside cottage, which cost $144,800 (including $14,500 for the land) several years ago. Can you file 1040ez online (Your land was not damaged. Can you file 1040ez online ) This was your only casualty or theft loss for the year. Can you file 1040ez online The FMV of the property immediately before the fire was $180,000 ($145,000 for the cottage and $35,000 for the land). Can you file 1040ez online The FMV immediately after the fire was $35,000 (value of the land). Can you file 1040ez online You collected $130,000 from the insurance company. Can you file 1040ez online Your adjusted gross income for the year the fire occurred is $80,000. Can you file 1040ez online Your deduction for the casualty loss is $6,700, figured in the following manner. Can you file 1040ez online 1. Can you file 1040ez online Adjusted basis of the entire property (cost in this example) $144,800 2. Can you file 1040ez online FMV of entire property  before fire $180,000 3. Can you file 1040ez online FMV of entire property after fire 35,000 4. Can you file 1040ez online Decrease in FMV of entire property (line 2 − line 3) $145,000 5. Can you file 1040ez online Loss (smaller of line 1 or line 4) $144,800 6. Can you file 1040ez online Subtract insurance 130,000 7. Can you file 1040ez online Loss after reimbursement $14,800 8. Can you file 1040ez online Subtract $100 100 9. Can you file 1040ez online Loss after $100 rule $14,700 10. Can you file 1040ez online Subtract 10% of $80,000 AGI 8,000 11. Can you file 1040ez online Casualty loss deduction $ 6,700 Example 2. Can you file 1040ez online You bought your home a few years ago. Can you file 1040ez online You paid $150,000 ($10,000 for the land and $140,000 for the house). Can you file 1040ez online You also spent an additional $2,000 for landscaping. Can you file 1040ez online This year a fire destroyed your home. Can you file 1040ez online The fire also damaged the shrubbery and trees in your yard. Can you file 1040ez online The fire was your only casualty or theft loss this year. Can you file 1040ez online Competent appraisers valued the property as a whole at $175,000 before the fire, but only $50,000 after the fire. Can you file 1040ez online Shortly after the fire, the insurance company paid you $95,000 for the loss. Can you file 1040ez online Your adjusted gross income for this year is $70,000. Can you file 1040ez online You figure your casualty loss deduction as follows. Can you file 1040ez online 1. Can you file 1040ez online Adjusted basis of the entire property (cost of land, building, and landscaping) $152,000 2. Can you file 1040ez online FMV of entire property  before fire $175,000 3. Can you file 1040ez online FMV of entire property after fire 50,000 4. Can you file 1040ez online Decrease in FMV of entire property (line 2 − line 3) $125,000 5. Can you file 1040ez online Loss (smaller of line 1 or line 4) $125,000 6. Can you file 1040ez online Subtract insurance 95,000 7. Can you file 1040ez online Loss after reimbursement $30,000 8. Can you file 1040ez online Subtract $100 100 9. Can you file 1040ez online Loss after $100 rule $29,900 10. Can you file 1040ez online Subtract 10% of $70,000 AGI 7,000 11. Can you file 1040ez online Casualty loss deduction $ 22,900 Personal property. Can you file 1040ez online   Personal property is any property that is not real property. Can you file 1040ez online 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. Can you file 1040ez online Then combine these separate losses to figure the total loss. Can you file 1040ez online Reduce the total loss by $100 and 10% of your adjusted gross income to figure the loss deduction. Can you file 1040ez online Example 1. Can you file 1040ez online In August, a storm destroyed your pleasure boat, which cost $18,500. Can you file 1040ez online This was your only casualty or theft loss for the year. Can you file 1040ez online Its FMV immediately before the storm was $17,000. Can you file 1040ez online You had no insurance, but were able to salvage the motor of the boat and sell it for $200. Can you file 1040ez online Your adjusted gross income for the year the casualty occurred is $70,000. Can you file 1040ez online Although the motor was sold separately, it is part of the boat and not a separate item of property. Can you file 1040ez online You figure your casualty loss deduction as follows. Can you file 1040ez online 1. Can you file 1040ez online Adjusted basis (cost in this example) $18,500 2. Can you file 1040ez online FMV before storm $17,000 3. Can you file 1040ez online FMV after storm 200 4. Can you file 1040ez online Decrease in FMV  (line 2 − line 3) $16,800 5. Can you file 1040ez online Loss (smaller of line 1 or line 4) $16,800 6. Can you file 1040ez online Subtract insurance -0- 7. Can you file 1040ez online Loss after reimbursement $16,800 8. Can you file 1040ez online Subtract $100 100 9. Can you file 1040ez online Loss after $100 rule $16,700 10. Can you file 1040ez online Subtract 10% of $70,000 AGI 7,000 11. Can you file 1040ez online Casualty loss deduction $ 9,700 Example 2. Can you file 1040ez online In June, you were involved in an auto accident that totally destroyed your personal car and your antique pocket watch. Can you file 1040ez online You had bought the car for $30,000. Can you file 1040ez online The FMV of the car just before the accident was $17,500. Can you file 1040ez online Its FMV just after the accident was $180 (scrap value). Can you file 1040ez online Your insurance company reimbursed you $16,000. Can you file 1040ez online Your watch was not insured. Can you file 1040ez online You had purchased it for $250. Can you file 1040ez online Its FMV just before the accident was $500. Can you file 1040ez online Your adjusted gross income for the year the accident occurred is $97,000. Can you file 1040ez online Your casualty loss deduction is zero, figured as follows. Can you file 1040ez online     Car Watch 1. Can you file 1040ez online Adjusted basis (cost) $30,000 $250 2. Can you file 1040ez online FMV before accident $17,500 $500 3. Can you file 1040ez online FMV after accident 180 -0- 4. Can you file 1040ez online Decrease in FMV (line 2 − line 3) $17,320 $500 5. Can you file 1040ez online Loss (smaller of line 1 or line 4) $17,320 $250 6. Can you file 1040ez online Subtract insurance 16,000 -0- 7. Can you file 1040ez online Loss after reimbursement $1,320 $250 8. Can you file 1040ez online Total loss $1,570 9. Can you file 1040ez online Subtract $100 100 10. Can you file 1040ez online Loss after $100 rule $1,470 11. Can you file 1040ez online Subtract 10% of $97,000 AGI 9,700 12. Can you file 1040ez online Casualty loss deduction $ -0- Both real and personal properties. Can you file 1040ez online   When a casualty involves both real and personal properties, you must figure the loss separately for each type of property. Can you file 1040ez online However, you apply a single $100 reduction to the total loss. Can you file 1040ez online Then, you apply the 10% rule to figure the casualty loss deduction. Can you file 1040ez online Example. Can you file 1040ez online In July, a hurricane damaged your home, which cost you $164,000 including land. Can you file 1040ez online 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. Can you file 1040ez online Your household furnishings were also damaged. Can you file 1040ez online You separately figured the loss on each damaged household item and arrived at a total loss of $600. Can you file 1040ez online You collected $50,000 from the insurance company for the damage to your home, but your household furnishings were not insured. Can you file 1040ez online Your adjusted gross income for the year the hurricane occurred is $65,000. Can you file 1040ez online You figure your casualty loss deduction from the hurricane in the following manner. Can you file 1040ez online 1. Can you file 1040ez online Adjusted basis of real property (cost in this example) $164,000 2. Can you file 1040ez online FMV of real property before hurricane $170,000 3. Can you file 1040ez online FMV of real property after hurricane 100,000 4. Can you file 1040ez online Decrease in FMV of real property (line 2 − line 3) $70,000 5. Can you file 1040ez online Loss on real property (smaller of line 1 or line 4) $70,000 6. Can you file 1040ez online Subtract insurance 50,000 7. Can you file 1040ez online Loss on real property after reimbursement $20,000 8. Can you file 1040ez online Loss on furnishings $600 9. Can you file 1040ez online Subtract insurance -0- 10. Can you file 1040ez online Loss on furnishings after reimbursement $600 11. Can you file 1040ez online Total loss (line 7 plus line 10) $20,600 12. Can you file 1040ez online Subtract $100 100 13. Can you file 1040ez online Loss after $100 rule $20,500 14. Can you file 1040ez online Subtract 10% of $65,000 AGI 6,500 15. Can you file 1040ez online Casualty loss deduction $14,000 Property used partly for business and partly for personal purposes. Can you file 1040ez online   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. Can you file 1040ez online You must figure each loss separately because the losses attributed to these two uses are figured in two different ways. Can you file 1040ez online 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. Can you file 1040ez online The $100 rule and the 10% rule apply only to the casualty or theft loss on the personal-use portion of the property. Can you file 1040ez online Example. Can you file 1040ez online You own a building that you constructed on leased land. Can you file 1040ez online You use half of the building for your business and you live in the other half. Can you file 1040ez online The cost of the building was $400,000. Can you file 1040ez online You made no further improvements or additions to it. Can you file 1040ez online A flood in March damaged the entire building. Can you file 1040ez online The FMV of the building was $380,000 immediately before the flood and $320,000 afterwards. Can you file 1040ez online Your insurance company reimbursed you $40,000 for the flood damage. Can you file 1040ez online Depreciation on the business part of the building before the flood totaled $24,000. Can you file 1040ez online Your adjusted gross income for the year the flood occurred is $125,000. Can you file 1040ez online You have a deductible business casualty loss of $10,000. Can you file 1040ez online You do not have a deductible personal casualty loss because of the 10% rule. Can you file 1040ez online You figure your loss as follows. Can you file 1040ez online     Business   Personal     Part   Part 1. Can you file 1040ez online Cost (total $400,000) $200,000   $200,000 2. Can you file 1040ez online Subtract depreciation 24,000   -0- 3. Can you file 1040ez online Adjusted basis $176,000   $200,000 4. Can you file 1040ez online FMV before flood (total $380,000) $190,000   $190,000 5. Can you file 1040ez online FMV after flood (total $320,000) 160,000   160,000 6. Can you file 1040ez online Decrease in FMV  (line 4 − line 5) $30,000   $30,000 7. Can you file 1040ez online Loss (smaller of line 3 or line 6) $30,000   $30,000 8. Can you file 1040ez online Subtract insurance 20,000   20,000 9. Can you file 1040ez online Loss after reimbursement $10,000   $10,000 10. Can you file 1040ez online Subtract $100 on personal-use property -0-   100 11. Can you file 1040ez online Loss after $100 rule $10,000   $9,900 12. Can you file 1040ez online Subtract 10% of $125,000 AGI on personal-use property -0-   12,500 13. Can you file 1040ez online Deductible business loss $10,000     14. Can you file 1040ez online 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. Can you file 1040ez online Your gain is figured as follows. Can you file 1040ez online The amount you receive (discussed next), minus Your adjusted basis in the property at the time of the casualty or theft. Can you file 1040ez online See Adjusted Basis , earlier, for information on adjusted basis. Can you file 1040ez online 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. Can you file 1040ez online Amount you receive. Can you file 1040ez online   The amount you receive includes any money plus the value of any property you receive minus any expenses you have in obtaining reimbursement. Can you file 1040ez online It also includes any reimbursement used to pay off a mortgage or other lien on the damaged, destroyed, or stolen property. Can you file 1040ez online Example. Can you file 1040ez online A hurricane destroyed your personal residence and the insurance company awarded you $145,000. Can you file 1040ez online You received $140,000 in cash. Can you file 1040ez online The remaining $5,000 was paid directly to the holder of a mortgage on the property. Can you file 1040ez online The amount you received includes the $5,000 reimbursement paid on the mortgage. Can you file 1040ez online Main home destroyed. Can you file 1040ez online   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. Can you file 1040ez online You may be able to exclude up to $250,000 of the gain (up to $500,000 if married filing jointly). Can you file 1040ez online 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. Can you file 1040ez online For information on this exclusion, see Publication 523. Can you file 1040ez online 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. Can you file 1040ez online See Postponement of Gain , later. Can you file 1040ez online Reporting a gain. Can you file 1040ez online   You generally must report your gain as income in the year you receive the reimbursement. Can you file 1040ez online 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. Can you file 1040ez online   For information on how to report a gain, see How To Report Gains and Losses , later. Can you file 1040ez online    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. Can you file 1040ez online See 10% Rule under Deduction Limits, earlier. Can you file 1040ez online 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. Can you file 1040ez online Your basis in the new property is generally the same as your adjusted basis in the property it replaces. Can you file 1040ez online You must ordinarily report the gain on your stolen or destroyed property if you receive money or unlike property as reimbursement. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online See Controlling interest in a corporation , later. Can you file 1040ez online If you have a gain on damaged property, you can postpone reporting the gain if you spend the reimbursement to restore the property. Can you file 1040ez online To postpone reporting all the gain, the cost of your replacement property must be at least as much as the reimbursement you receive. Can you file 1040ez online 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. Can you file 1040ez online Example. Can you file 1040ez online In 1970, you bought an oceanfront cottage for your personal use at a cost of $18,000. Can you file 1040ez online You made no further improvements or additions to it. Can you file 1040ez online When a storm destroyed the cottage this January, the cottage was worth $250,000. Can you file 1040ez online You received $146,000 from the insurance company in March. Can you file 1040ez online You had a gain of $128,000 ($146,000 − $18,000). Can you file 1040ez online You spent $144,000 to rebuild the cottage. Can you file 1040ez online Since this is less than the insurance proceeds received, you must include $2,000 ($146,000 − $144,000) in your income. Can you file 1040ez online Buying replacement property from a related person. Can you file 1040ez online   You cannot postpone reporting a gain from a casualty or theft if you buy the replacement property from a related person (discussed later). Can you file 1040ez online This rule applies to the following taxpayers. Can you file 1040ez online C corporations. Can you file 1040ez online Partnerships in which more than 50% of the capital or profits interests is owned by C corporations. Can you file 1040ez online 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. Can you file 1040ez online 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. Can you file 1040ez online If the property is owned by a partnership, the $100,000 limit applies to the partnership and each partner. Can you file 1040ez online If the property is owned by an S corporation, the $100,000 limit applies to the S corporation and each shareholder. Can you file 1040ez online Exception. Can you file 1040ez online   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. Can you file 1040ez online Related persons. Can you file 1040ez online   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. Can you file 1040ez online For more information on related persons, see Nondeductible Loss under Sales and Exchanges Between Related Persons in chapter 2 of Publication 544. Can you file 1040ez online Death of a taxpayer. Can you file 1040ez online   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. Can you file 1040ez online 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. Can you file 1040ez online Replacement Property You must buy replacement property for the specific purpose of replacing your destroyed or stolen property. Can you file 1040ez online Property you acquire as a gift or inheritance does not qualify. Can you file 1040ez online You do not have to use the same funds you receive as
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Can you file 1040ez online Index A Abortion, Abortion Acupuncture, Acupuncture Adopted child's medical expenses, Adopted child. Can you file 1040ez online AGI limitation, Introduction, Community property states. Can you file 1040ez online Alcoholism, Alcoholism Ambulances, Ambulance Archer MSAs Health coverage tax credit, How To Take the Credit Medical expenses paid for decedent from, Decedent Artificial limbs, Artificial Limb Artificial teeth, Artificial Teeth Aspirin, Nonprescription Drugs and Medicines Assistance (see Tax help) Assisted living homes, Nursing Home Athletic club dues, Health Club Dues Automobiles (see Cars) B Baby sitting, Baby Sitting, Childcare, and Nursing Services for a Normal, Healthy Baby Bandages, Bandages Basis Medical equipment or property (Worksheet D), Worksheet D. Can you file 1040ez online Adjusted Basis of Medical Equipment or Property Sold Birth control pills, Birth Control Pills Body scan, Body Scan Braille books and magazines, Braille Books and Magazines Breast pumps and supplies, Breast Pumps and Supplies Breast reconstruction surgery, Breast Reconstruction Surgery C Calculation of deduction, What If You Are Reimbursed for Medical Expenses You Did Not Deduct? Capital expenses, Capital Expenses Improvements to rented property, Improvements to property rented by a person with a disability. Can you file 1040ez online Operation and upkeep, Operation and upkeep. Can you file 1040ez online Worksheet A, Capital expense worksheet. Can you file 1040ez online Cars, Car Out-of-pocket expenses, Car expenses. Can you file 1040ez online Standard medical mileage rates, Car expenses. Can you file 1040ez online Child care, Baby Sitting, Childcare, and Nursing Services for a Normal, Healthy Baby Children's medical expenses Adopted child, Adopted child. Can you file 1040ez online Dependents, Dependent Chiropractor, Chiropractor Christian Scientist practitioner, Christian Science Practitioner Chronically ill persons, Chronically ill individual. Can you file 1040ez online COBRA assistance Recapture of COBRA premium assistance, Worksheet F. Can you file 1040ez online Recapture of COBRA Premium Assistance for Higher Income Taxpayers COBRA premium assistance, COBRA Premium Assistance Community property states, Community property states. Can you file 1040ez online Computer banks to track medical information, Medical Information Plan Contact lenses, Contact Lenses Controlled substances, Controlled Substances Cosmetic surgery, Cosmetic Surgery Credit (see Health coverage tax credit) Crutches, Crutches D Dancing lessons, Dancing Lessons Decedent's medical expenses, Decedent, What if you pay medical expenses of a deceased spouse or dependent? Deductible amount, How Much of the Expenses Can You Deduct? Deductible expenses, Whose Medical Expenses Can You Include?, X-ray Definition of medical expenses Doctor, What Are Medical Expenses? Physician, What Are Medical Expenses? Dental treatment, Dental Treatment Artificial teeth, Artificial Teeth Teeth whitening, Teeth Whitening Dentures, Artificial Teeth Dependent's medical expenses Adopted child, Adopted child. Can you file 1040ez online Multiple support agreement, Support claimed under a multiple support agreement. Can you file 1040ez online Qualifying child, Dependent Qualifying relative, Dependent Dependents Disabled dependent care, Disabled Dependent Care Expenses, Dependents with disabilities. Can you file 1040ez online Diagnostic devices, Diagnostic Devices Diaper services, Diaper Service Disabilities, persons with Dependent care expenses, Disabled Dependent Care Expenses, Dependents with disabilities. Can you file 1040ez online Improvements to rented property, Improvements to property rented by a person with a disability. Can you file 1040ez online Special education, Special Education Divorced taxpayers Medical expenses of child, Child of divorced or separated parents. Can you file 1040ez online Drug addiction, Drug Addiction Drugs (see Medicines) Dues Health club, Health Club Dues E Education, special, Special Education Electrolysis, Cosmetic Surgery Employer-sponsored health insurance plans, Employer-Sponsored Health Insurance Plan Employment taxes, Employment taxes. Can you file 1040ez online Excluded expenses Insurance premiums, Insurance Premiums You Cannot Include Eye surgery, Eye Surgery Eyeglasses, Eyeglasses F Fertility enhancement Eggs, temporary storage of, Fertility Enhancement Fertility, Fertility Enhancement In vitro fertilization, Fertility Enhancement Figuring the deduction, How Do You Figure and Report the Deduction on Your Tax Return? Final return for decedent Medical expenses paid, Decedent Flexible spending account, Flexible Spending Account Food (see Weight-loss programs) Form 1040 Health coverage tax credit, How To Take the Credit Self-employed persons, health insurance costs, Health Insurance Costs for Self-Employed Persons Form 1040, Schedule A Impairment-related work expenses, Where to report. Can you file 1040ez online Medical and dental expenses, Introduction, What Tax Form Do You Use? Self-employed persons, health insurance costs, Health Insurance Costs for Self-Employed Persons Form 1040, Schedule C Impairment-related work expenses, Where to report. Can you file 1040ez online Form 1040, Schedule C-EZ Impairment-related work expenses, Where to report. Can you file 1040ez online Form 1040, Schedule E Impairment-related work expenses, Where to report. Can you file 1040ez online Form 1040, Schedule F Impairment-related work expenses, Where to report. Can you file 1040ez online Form 1040NR Health coverage tax credit, How To Take the Credit Form 1040X Amended return, What Expenses Can You Include This Year? Deceased taxpayer, What if the decedent's return had been filed and the medical expenses were not included? Form 1099-H Self-employed persons, health insurance costs, Health Insurance Costs for Self-Employed Persons Form 2106 Impairment-related work expenses, Where to report. Can you file 1040ez online Form 2106-EZ Impairment-related work expenses, Where to report. Can you file 1040ez online Form 2555 Self-employed persons, health insurance costs, Health Insurance Costs for Self-Employed Persons Form 2555-EZ Self-employed persons, health insurance costs, Health Insurance Costs for Self-Employed Persons Form 8453 Health coverage tax credit, How To Take the Credit Form 8885 Health coverage tax credit, How To Take the Credit Self-employed persons, health insurance costs, Health Insurance Costs for Self-Employed Persons Founder's fee (see Lifetime care, advance payments) Free tax services, Free help with your tax return. Can you file 1040ez online Funeral expenses, Funeral Expenses Future medical care, Payments for future medical care. Can you file 1040ez online , Future Medical Care G Glasses, Eyeglasses Guide dog or other animal, Guide Dog or Other Service Animal H Hair Removal, Cosmetic Surgery Transplants, Cosmetic Surgery Wigs, Wig Health club dues, Health Club Dues Health coverage tax credit, Health Coverage Tax Credit Advanced payments, Monthly HCTC Alternative TAA recipient, Health Coverage Tax Credit Archer MSAs, How To Take the Credit Both spouses eligible, Qualifying Family Member Children of divorced parents, Health Coverage Tax Credit, Qualifying Family Member Eligible coverage month, Eligible Coverage Month Insurance that covers other individuals, Insurance that covers other individuals. Can you file 1040ez online Legally separated, Legally separated. Can you file 1040ez online Married persons filing separate returns, Qualifying Family Member Monthly HCTC, Monthly HCTC Nonqualified health insurance, Nonqualified Health Insurance Other specified coverage Benefits from the Veterans Administration, Other Specified Coverage Pension Benefit Guaranty Corporation (PBGC) recipient, Health Coverage Tax Credit Qualified health insurance, Qualified Health Insurance Qualifying family member, Qualifying Family Member Reimbursement credit, Monthly HCTC Reporting, How To Take the Credit State-qualified health insurance, State-qualified health insurance. Can you file 1040ez online TAA recipient, Health Coverage Tax Credit Yearly HCTC, Yearly HCTC Health Coverage Tax Credit Alternative TAA recipient, Who Can Take This Credit? PBGC pension payee, Who Can Take This Credit? TAA recipient, Who Can Take This Credit? Health institutes, Health Institute Health insurance Credit (see Health coverage tax credit) Employer-sponsored plan, Employer-Sponsored Health Insurance Plan Premiums Deductible, Insurance Premiums Nondeductible, Insurance Premiums You Cannot Include Paid by employer, Premiums paid by your employer. Can you file 1040ez online Paid by employer and you, Premiums paid by you and your employer. Can you file 1040ez online Paid by you, Premiums paid by you. Can you file 1040ez online Prepaid, Prepaid Insurance Premiums Unused sick leave used to pay, Unused Sick Leave Used To Pay Premiums Reimbursements (see Reimbursements) Self-employed persons, Health Insurance Costs for Self-Employed Persons Health maintenance organizations (HMOs), Health Maintenance Organization (HMO) Health reimbursement arrangements (HRAs), Health reimbursement arrangement (HRA). Can you file 1040ez online Health savings accounts (HSAs) Payments from, Health Savings Accounts Hearing aids, Hearing Aids Hearing-impaired persons Guide dog or other animal for, Guide Dog or Other Service Animal Help (see Tax help) HMOs (Health maintenance organizations), Health Maintenance Organization (HMO) Home care (see Nursing services) Home improvements (see Capital expenses:) Hospital services, Hospital Services Hotels, Lodging Household help, Household Help HRAs (Health reimbursement arrangements), Health reimbursement arrangement (HRA). Can you file 1040ez online I Illegal operations and treatments, Illegal Operations and Treatments Illegal substances, Controlled Substances Impairment-related work expenses, Workers' compensation. Can you file 1040ez online , Impairment-related expenses defined. Can you file 1040ez online Reporting of, Where to report. Can you file 1040ez online Insulin, Nonprescription Drugs and Medicines Insurance (see Health insurance) Intellectually and developmentally disabled persons Mentally retarded, Intellectually and Developmentally Disabled, Special Home for Special homes for, Intellectually and Developmentally Disabled, Special Home for L Laboratory fees, Laboratory Fees Lactation expenses (see Breast pumps and supplies) Laser eye surgery, Eye Surgery Lead-based paint removal, Lead-Based Paint Removal Learning disabilities, Special Education Legal fees, Legal Fees Lessons, dancing and swimming, Dancing Lessons Lifetime care Advance payments for, Lifetime Care—Advance Payments Lodging, Lodging, Trips (see also Trips) Long-term care, Long-Term Care Chronically ill individuals, Chronically ill individual. Can you file 1040ez online Maintenance and personal care services, Maintenance and personal care services. Can you file 1040ez online Qualified insurance contracts, Qualified Long-Term Care Insurance Contracts Qualified services, Qualified Long-Term Care Services M Maintenance and personal care services, Maintenance and personal care services. Can you file 1040ez online Maternity clothes, Maternity Clothes Meals, Meals, Weight-Loss Program (see also Weight-loss programs) Medical conferences, Medical Conferences Medical equipment or property Adjusted basis (Worksheet D), Worksheet D. Can you file 1040ez online Adjusted Basis of Medical Equipment or Property Sold Medical expense records, What Tax Form Do You Use? Medical information plans, Medical Information Plan Medical savings accounts (MSAs), Medical Savings Account (MSA) Medicare Medicare A, deductible expense, Medicare A Medicare B, deductible expense, Medicare B Medicare D, deductible expense, Medicare D Medicines, Medicines Imported, Imported medicines and drugs. Can you file 1040ez online , Medicines and Drugs From Other Countries Nonprescription drugs and medicines, Nonprescription Drugs and Medicines Missing children, photographs of in IRS publications, Reminders Multiple support agreement, Support claimed under a multiple support agreement. Can you file 1040ez online N Nondeductible expenses, What Expenses Are Not Includible?, Weight-Loss Program Nonprescription drugs and medicines, Nonprescription Drugs and Medicines Nursing homes, Nursing Home Nursing services, Nursing Services, Baby Sitting, Childcare, and Nursing Services for a Normal, Healthy Baby Chronically ill individuals, Chronically ill individual. Can you file 1040ez online Nutritional supplements Natural medicines, Nutritional Supplements O Operations, Operations Cosmetic surgery, Cosmetic Surgery Eye surgery, Eye Surgery Illegal operations and treatments, Illegal Operations and Treatments Optometrist, Optometrist Optometrist services, Eyeglasses Organ donors, Transplants Osteopath, Osteopath Oxygen, Oxygen P Paint removal, for lead-based, Lead-Based Paint Removal Parking fees and tolls, Car expenses. Can you file 1040ez online Personal injury damages, Damages for Personal Injuries Personal use items, Personal Use Items Photographs of missing children in IRS publications, Reminders Physical examination, Physical Examination Physical therapy, Therapy Plastic surgery, Cosmetic Surgery Pregnancy test kit, Pregnancy Test Kit Premiums (see Health insurance) Prepaid insurance premiums, Prepaid Insurance Premiums Prosthesis, Artificial Limb Psychiatric care, Psychiatric Care Psychoanalysis, Psychoanalysis Psychologists, Psychologist Publications (see Tax help) R Radial keratotomy, Eye Surgery Recordkeeping, What Tax Form Do You Use? Rehabilitation facilities, Nursing Home Reimbursements, How Do You Treat Reimbursements?, What If You Are Reimbursed for Medical Expenses You Did Not Deduct? Excess includible in income More than one policy (Worksheet C), More than one policy. Can you file 1040ez online One policy (Worksheet B), Worksheet B. Can you file 1040ez online Excess Reimbursement Includible in Income When You Have Only One Policy Excess may be taxable (Figure 1), What If Your Insurance Reimbursement Is More Than Your Medical Expenses? Health Reimbursement Arrangement (HRA), Health reimbursement arrangement (HRA). Can you file 1040ez online Insurance, Insurance Reimbursement, What If Your Insurance Reimbursement Is More Than Your Medical Expenses? Medical expenses not deducted, What If You Receive Insurance Reimbursement in a Later Year? More than one policy, More than one policy. Can you file 1040ez online Received in later year, What If You Are Reimbursed for Medical Expenses You Did Not Deduct? Rental property Improvements to, Improvements to property rented by a person with a disability. Can you file 1040ez online Reporting Health coverage tax credit, How To Take the Credit Impairment-related work expenses, Where to report. Can you file 1040ez online Medical and dental expenses, What If You Are Reimbursed for Medical Expenses You Did Not Deduct? Medical deduction (see Form 1040, Schedule A) Self-employed persons, health insurance costs, Health Insurance Costs for Self-Employed Persons S Sale of medical equipment or property, Sale of Medical Equipment or Property Adjusted basis (Worksheet D), Worksheet D. Can you file 1040ez online Adjusted Basis of Medical Equipment or Property Sold Schedules (see Form 1040) Seeing-eye dogs, Guide Dog or Other Service Animal Self-employed persons Health coverage tax credit, How To Take the Credit Health insurance costs, Health Insurance Costs for Self-Employed Persons Senior housing, Nursing Home Separate returns Community property states, Community property states. Can you file 1040ez online Medical and dental expenses, Separate returns. Can you file 1040ez online Separated taxpayers Health coverage tax credit, Legally separated. Can you file 1040ez online Medical expenses of child, Child of divorced or separated parents. Can you file 1040ez online Service animals, Guide Dog or Other Service Animal Sick leave Used to pay health insurance premiums, Unused Sick Leave Used To Pay Premiums Special education, Special Education Spouse's medical expenses, Spouse Deceased spouse, What if you pay medical expenses of a deceased spouse or dependent? Sterilization, Sterilization Stop-smoking programs, Stop-Smoking Programs Surgery (see Operations) Swimming lessons, Dancing Lessons T Tables and figures Medical equipment or property Adjusted basis (Worksheet D), Worksheet D. Can you file 1040ez online Adjusted Basis of Medical Equipment or Property Sold Reimbursements, excess includible in income More than one policy (Worksheet C), More than one policy. Can you file 1040ez online One policy (Worksheet B), Worksheet B. Can you file 1040ez online Excess Reimbursement Includible in Income When You Have Only One Policy Reimbursements, excess may be taxable (Figure 1), What If Your Insurance Reimbursement Is More Than Your Medical Expenses? Tax help, How To Get Tax Help Teeth Artificial, Artificial Teeth Dental treatment, Dental Treatment Whitening, Teeth Whitening Telephone, Telephone Television, Television Therapy, Therapy Transplants, Transplants Travel and transportation expenses, Transportation Car expenses, Car expenses. Can you file 1040ez online Includible expenses, You can include:, Transportation expenses you cannot include. Can you file 1040ez online Parking fees and tolls, Car expenses. Can you file 1040ez online Trips, Trips TTY/TDD information, How To Get Tax Help Tuition, Tuition V Vasectomy, Vasectomy Veterinary fees, Veterinary Fees Vision correction surgery, Eye Surgery Visually impaired persons Guide dog or other animal for, Guide Dog or Other Service Animal Vitamins or minerals, Nutritional Supplements Voluntary Employee's Beneficiary Association (VEBA) Qualified health insurance, Voluntary Employee's Beneficiary Association (VEBA) W Weight-loss programs, Weight-Loss Program, Weight-Loss Program What's new COBRA continuous coverage, What's New Health coverage tax credit, What's New Standard medical mileage rate, What's New Wheelchairs, Wheelchair Wigs, Wig Work expenses Disabled dependent care, Disabled Dependent Care Expenses Impairment-related, Impairment-Related Work Expenses Workers' compensation, Workers' compensation. Can you file 1040ez online Worksheets Capital expenses (Worksheet A), Capital expense worksheet. Can you file 1040ez online Medical equipment or property Adjusted basis (Worksheet D), Worksheet D. Can you file 1040ez online Adjusted Basis of Medical Equipment or Property Sold Reimbursements, excess includible in income More than one policy (Worksheet C), More than one policy. Can you file 1040ez online One policy (Worksheet B), Worksheet B. Can you file 1040ez online Excess Reimbursement Includible in Income When You Have Only One Policy X X-rays, X-ray Prev  Up     Home   More Online Publications