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H&r Block Free Tax Return

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H&r Block Free Tax Return

H&r block free tax return 25. H&r block free tax return   Nonbusiness Casualty and Theft Losses Table of Contents What's New Introduction Useful Items - You may want to see: CasualtyFamily pet. H&r block free tax return Progressive deterioration. H&r block free tax return Damage from corrosive drywall. H&r block free tax return Theft Loss on Deposits Proof of Loss Figuring a LossDecrease in Fair Market Value Adjusted Basis Insurance and Other Reimbursements Single Casualty on Multiple Properties Deduction Limits$100 Rule 10% Rule When To Report Gains and LossesDisaster Area Loss How To Report Gains and Losses What's New New Section C of Form 4684 for Ponzi-type investment schemes. H&r block free tax return  Section C of Form 4684 is new for 2013. H&r block free tax return You must complete Section C if you are claiming a theft loss deduction due to a Ponzi-type investment scheme and are using Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58. H&r block free tax return Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. H&r block free tax return You do not need to complete Appendix A. H&r block free tax return For details, see Losses from Ponzi-type investment schemes , in this chapter. H&r block free tax return Introduction This chapter explains the tax treatment of personal (not business or investment related) casualty losses, theft losses, and losses on deposits. H&r block free tax return The chapter also explains the following  topics. H&r block free tax return How to figure the amount of your loss. H&r block free tax return How to treat insurance and other reimbursements you receive. H&r block free tax return The deduction limits. H&r block free tax return When and how to report a casualty or theft. H&r block free tax return Forms to file. H&r block free tax return    When you have a casualty or theft, you have to file Form 4684. H&r block free tax return You will also have to file one or more of the following forms. H&r block free tax return Schedule A (Form 1040), Itemized Deductions Schedule D (Form 1040), Capital Gains and Losses Condemnations. H&r block free tax return   For information on condemnations of property, see Involuntary Conversions in chapter 1 of Publication 544, Sales and Other Disposition of Assets. H&r block free tax return Workbook for casualties and thefts. H&r block free tax return    Publication 584 is available to help you make a list of your stolen or damaged personal-use property and figure your loss. H&r block free tax return It includes schedules to help you figure the loss on your home, its contents, and your motor vehicles. H&r block free tax return Business or investment-related losses. H&r block free tax return   For information on a casualty or theft loss of business or income-producing property, see Publication 547, Casualties, Disasters, and Thefts. H&r block free tax return Useful Items - You may want to see: Publication 544 Sales and Other Dispositions  of Assets 547 Casualties, Disasters, and   Thefts 584 Casualty, Disaster, and Theft   Loss Workbook (Personal-Use  Property) Form (and Instructions) Schedule A (Form 1040) Itemized Deductions Schedule D (Form 1040) Capital Gains and Losses 4684 Casualties and Thefts Casualty A casualty is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. H&r block free tax return A sudden event is one that is swift, not gradual or progressive. H&r block free tax return An unexpected event is one that is ordinarily unanticipated and unintended. H&r block free tax return 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. H&r block free tax return Deductible losses. H&r block free tax return   Deductible casualty losses can result from a number of different causes, including the following. H&r block free tax return Car accidents (but see Nondeductible losses , next, for exceptions). H&r block free tax return Earthquakes. H&r block free tax return Fires (but see Nondeductible losses , next, for exceptions). H&r block free tax return Floods. H&r block free tax return Government-ordered demolition or relocation of a home that is unsafe to use because of a disaster as discussed under Disaster Area Losses in Publication 547. H&r block free tax return Mine cave-ins. H&r block free tax return Shipwrecks. H&r block free tax return Sonic booms. H&r block free tax return Storms, including hurricanes and tornadoes. H&r block free tax return Terrorist attacks. H&r block free tax return Vandalism. H&r block free tax return Volcanic eruptions. H&r block free tax return Nondeductible losses. H&r block free tax return   A casualty loss is not deductible if the damage or destruction is caused by the following. H&r block free tax return Accidentally breaking articles such as glassware or china under normal conditions. H&r block free tax return A family pet (explained below). H&r block free tax return A fire if you willfully set it or pay someone else to set it. H&r block free tax return A car accident if your willful negligence or willful act caused it. H&r block free tax return The same is true if the willful act or willful negligence of someone acting for you caused the accident. H&r block free tax return Progressive deterioration (explained later). H&r block free tax return Family pet. H&r block free tax return   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. H&r block free tax return Example. H&r block free tax return Your antique oriental rug was damaged by your new puppy before it was housebroken. H&r block free tax return Because the damage was not unexpected and unusual, the loss is not deductible as a casualty loss. H&r block free tax return Progressive deterioration. H&r block free tax return    Loss of property due to progressive deterioration is not deductible as a casualty loss. H&r block free tax return This is because the damage results from a steadily operating cause or a normal process, rather than from a sudden event. H&r block free tax return The following are examples of damage due to progressive deterioration. H&r block free tax return The steady weakening of a building due to normal wind and weather conditions. H&r block free tax return The deterioration and damage to a water heater that bursts. H&r block free tax return However, the rust and water damage to rugs and drapes caused by the bursting of a water heater does qualify as a casualty. H&r block free tax return Most losses of property caused by droughts. H&r block free tax return To be deductible, a drought-related loss generally must be incurred in a trade or business or in a transaction entered into for profit. H&r block free tax return Termite or moth damage. H&r block free tax return The damage or destruction of trees, shrubs, or other plants by a fungus, disease, insects, worms, or similar pests. H&r block free tax return However, a sudden destruction due to an unexpected or unusual infestation of beetles or other insects may result in a casualty loss. H&r block free tax return Damage from corrosive drywall. H&r block free tax return   Under a special procedure, you may be able to claim a casualty loss deduction for amounts you paid to repair damage to your home and household appliances that resulted from corrosive drywall. H&r block free tax return For details, see Publication 547. H&r block free tax return Theft A theft is the taking and removing of money or property with the intent to deprive the owner of it. H&r block free tax return The taking of property must be illegal under the laws of the state where it occurred and it must have been done with criminal intent. H&r block free tax return You do not need to show a conviction for theft. H&r block free tax return Theft includes the taking of money or property by the following means. H&r block free tax return Blackmail. H&r block free tax return Burglary. H&r block free tax return Embezzlement. H&r block free tax return Extortion. H&r block free tax return Kidnapping for ransom. H&r block free tax return Larceny. H&r block free tax return Robbery. H&r block free tax return The taking of money or property through fraud or misrepresentation is theft if it is illegal under state or local law. H&r block free tax return Decline in market value of stock. H&r block free tax return   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. H&r block free tax return 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. H&r block free tax return You report a capital loss on Schedule D (Form 1040). H&r block free tax return For more information about stock sales, worthless stock, and capital losses, see chapter 4 of Publication 550. H&r block free tax return Mislaid or lost property. H&r block free tax return   The simple disappearance of money or property is not a theft. H&r block free tax return 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. H&r block free tax return Sudden, unexpected, and unusual events are defined earlier. H&r block free tax return Example. H&r block free tax return A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. H&r block free tax return The diamond falls from the ring and is never found. H&r block free tax return The loss of the diamond is a casualty. H&r block free tax return Losses from Ponzi-type investment schemes. H&r block free tax return   If you had a loss from a Ponzi-type investment scheme, see: Revenue Ruling 2009-9, 2009-14 I. H&r block free tax return R. H&r block free tax return B. H&r block free tax return 735 (available at www. H&r block free tax return irs. H&r block free tax return gov/irb/2009-14_IRB/ar07. H&r block free tax return html). H&r block free tax return Revenue Procedure 2009-20, 2009-14 I. H&r block free tax return R. H&r block free tax return B. H&r block free tax return 749 (available at www. H&r block free tax return irs. H&r block free tax return gov/irb/2009-14_IRB/ar11. H&r block free tax return html). H&r block free tax return Revenue Procedure 2011-58, 2011-50 I. H&r block free tax return R. H&r block free tax return B. H&r block free tax return 849 (available at www. H&r block free tax return irs. H&r block free tax return gov/irb/2011-50_IRB/ar11. H&r block free tax return html). H&r block free tax return 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. H&r block free tax return Skip lines 19 to 27. H&r block free tax return Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. H&r block free tax return You do not need to complete Appendix A. H&r block free tax return For more information, see the above revenue ruling and revenue procedures, and the Instructions for Form 4684. H&r block free tax return   If you choose not to use the procedures in Revenue Procedure 2009-20, you may claim your theft loss by filling out Section B, lines 19 to 39, as appropriate. H&r block free tax return Loss on Deposits A loss on deposits can occur when a bank, credit union, or other financial institution becomes insolvent or bankrupt. H&r block free tax return If you incurred this type of loss, you can choose one of the following ways to deduct the loss. H&r block free tax return As a casualty loss. H&r block free tax return As an ordinary loss. H&r block free tax return As a nonbusiness bad debt. H&r block free tax return Casualty loss or ordinary loss. H&r block free tax return   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. H&r block free tax return The choice is generally 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. H&r block free tax return 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. H&r block free tax return 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. H&r block free tax return Once you make this choice, you cannot change it without permission from the Internal Revenue Service. H&r block free tax return   If you claim an ordinary loss, report it as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23. H&r block free tax return The maximum amount you can claim is $20,000 ($10,000 if you are married filing separately) reduced by any expected state insurance proceeds. H&r block free tax return Your loss is subject to the 2%-of-adjusted-gross-income limit. H&r block free tax return You cannot choose to claim an ordinary loss if any part of the deposit is federally insured. H&r block free tax return Nonbusiness bad debt. H&r block free tax return   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. H&r block free tax return How to report. H&r block free tax return   The kind of deduction you choose for your loss on deposits determines how you report your loss. H&r block free tax return If you choose: Casualty loss — report it on Form 4684 first and then on Schedule A (Form 1040). H&r block free tax return Ordinary loss — report it on Schedule A (Form 1040) as a miscellaneous itemized deduction. H&r block free tax return Nonbusiness bad debt — report it on Form 8949 first and then on Schedule D (Form 1040). H&r block free tax return More information. H&r block free tax return   For more information, see Special Treatment for Losses on Deposits in Insolvent or Bankrupt Financial Institutions in the Instructions for Form 4684 or Deposit in Insolvent or Bankrupt Financial Institution in Publication 550. H&r block free tax return Proof of Loss To deduct a casualty or theft loss, you must be able to prove that you had a casualty or theft. H&r block free tax return You also must be able to support the amount you take as a deduction. H&r block free tax return Casualty loss proof. H&r block free tax return   For a casualty loss, your records should show all the following. H&r block free tax return The type of casualty (car accident, fire, storm, etc. H&r block free tax return ) and when it occurred. H&r block free tax return That the loss was a direct result of the casualty. H&r block free tax return 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. H&r block free tax return Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. H&r block free tax return Theft loss proof. H&r block free tax return   For a theft loss, your records should show all the following. H&r block free tax return When you discovered that your property was missing. H&r block free tax return That your property was stolen. H&r block free tax return That you were the owner of the property. H&r block free tax return Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. H&r block free tax return It is important that you have records that will prove your deduction. H&r block free tax return If you do not have the actual records to support your deduction, you can use other satisfactory evidence to support it. H&r block free tax return Figuring a Loss Figure the amount of your loss using the following steps. H&r block free tax return Determine your adjusted basis in the property before the casualty or theft. H&r block free tax return Determine the decrease in fair market value of the property as a result of the casualty or theft. H&r block free tax return From the smaller of the amounts you determined in (1) and (2), subtract any insurance or other reimbursement you received or expect to receive. H&r block free tax return 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. H&r block free tax return Gain from reimbursement. H&r block free tax return   If your reimbursement is more than your adjusted basis in the property, you have a gain. H&r block free tax return This is true even if the decrease in the FMV of the property is smaller than your adjusted basis. H&r block free tax return If you have a gain, you may have to pay tax on it, or you may be able to postpone reporting the gain. H&r block free tax return See Publication 547 for more information on how to treat a gain from a reimbursement for a casualty or theft. H&r block free tax return Leased property. H&r block free tax return   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. H&r block free tax return 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. H&r block free tax return 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. H&r block free tax return FMV of stolen property. H&r block free tax return   The FMV of property immediately after a theft is considered to be zero, since you no longer have the property. H&r block free tax return Example. H&r block free tax return Several years ago, you purchased silver dollars at face value for $150. H&r block free tax return This is your adjusted basis in the property. H&r block free tax return Your silver dollars were stolen this year. H&r block free tax return The FMV of the coins was $1,000 just before they were stolen, and insurance did not cover them. H&r block free tax return Your theft loss is $150. H&r block free tax return Recovered stolen property. H&r block free tax return   Recovered stolen property is your property that was stolen and later returned to you. H&r block free tax return 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. H&r block free tax return Use this amount to refigure your total loss for the year in which the loss was deducted. H&r block free tax return   If your refigured loss is less than the loss you deducted, you generally have to report the difference as income in the recovery year. H&r block free tax return But report the difference only up to the amount of the loss that reduced your tax. H&r block free tax return For more information on the amount to report, see Recoveries in chapter 12. H&r block free tax return 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. H&r block free tax return However, other measures can also be used to establish certain decreases. H&r block free tax return Appraisal. H&r block free tax return   An appraisal to determine the difference between the FMV of the property immediately before a casualty or theft and immediately afterward should be made by a competent appraiser. H&r block free tax return The appraiser must recognize the effects of any general market decline that may occur along with the casualty. H&r block free tax return This information is needed to limit any deduction to the actual loss resulting from damage to the property. H&r block free tax return   Several factors are important in evaluating the accuracy of an appraisal, including the following. H&r block free tax return The appraiser's familiarity with your property before and after the casualty or theft. H&r block free tax return The appraiser's knowledge of sales of comparable property in the area. H&r block free tax return The appraiser's knowledge of conditions in the area of the casualty. H&r block free tax return The appraiser's method of appraisal. H&r block free tax return    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. H&r block free tax return For more information on disasters, see Disaster Area Losses, in Pub. H&r block free tax return 547. H&r block free tax return Cost of cleaning up or making repairs. H&r block free tax return   The cost of repairing damaged property is not part of a casualty loss. H&r block free tax return Neither is the cost of cleaning up after a casualty. H&r block free tax return But you can use the cost of cleaning up or making repairs after a casualty as a measure of the decrease in FMV if you meet all the following conditions. H&r block free tax return The repairs are actually made. H&r block free tax return The repairs are necessary to bring the property back to its condition before the casualty. H&r block free tax return The amount spent for repairs is not excessive. H&r block free tax return The repairs take care of the damage only. H&r block free tax return The value of the property after the repairs is not, due to the repairs, more than the value of the property before the casualty. H&r block free tax return Landscaping. H&r block free tax return   The cost of restoring landscaping to its original condition after a casualty may indicate the decrease in FMV. H&r block free tax return You may be able to measure your loss by what you spend on the following. H&r block free tax return Removing destroyed or damaged trees and shrubs minus any salvage you receive. H&r block free tax return Pruning and other measures taken to preserve damaged trees and shrubs. H&r block free tax return Replanting necessary to restore the property to its approximate value before the casualty. H&r block free tax return Car value. H&r block free tax return    Books issued by various automobile organizations that list your car may be useful in figuring the value of your car. H&r block free tax return You can use the book's retail values and modify them by such factors as mileage and the condition of your car to figure its value. H&r block free tax return 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. H&r block free tax return If your car is not listed in the books, determine its value from other sources. H&r block free tax return A dealer's offer for your car as a trade-in on a new car is not usually a measure of its true value. H&r block free tax return 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. H&r block free tax return Cost of protection. H&r block free tax return   The cost of protecting your property against a casualty or theft is not part of a casualty or theft loss. H&r block free tax return The amount you spend on insurance or to board up your house against a storm is not part of your loss. H&r block free tax return   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. H&r block free tax return An example would be the cost of a dike to prevent flooding. H&r block free tax return Exception. H&r block free tax return   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. H&r block free tax return See Disaster Area Losses in Publication 547. H&r block free tax return Incidental expenses. H&r block free tax return   Any incidental expenses you have 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. H&r block free tax return Replacement cost. H&r block free tax return   The cost of replacing stolen or destroyed property is not part of a casualty or theft loss. H&r block free tax return Sentimental value. H&r block free tax return   Do not consider sentimental value when determining your loss. H&r block free tax return 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. H&r block free tax return Decline in market value of property in or near casualty area. H&r block free tax return   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. H&r block free tax return You have a loss only for actual casualty damage to your property. H&r block free tax return However, if your home is in a federally declared disaster area, see Disaster Area Losses in Publication 547. H&r block free tax return Costs of photographs and appraisals. H&r block free tax return    Photographs taken after a casualty will be helpful in establishing the condition and value of the property after it was damaged. H&r block free tax return Photographs showing the condition of the property after it was repaired, restored, or replaced may also be helpful. H&r block free tax return    Appraisals are used to figure the decrease in FMV because of a casualty or theft. H&r block free tax return See Appraisal , earlier, under Figuring Decrease in FMV — Items To Consider, for information about appraisals. H&r block free tax return   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. H&r block free tax return You can claim these costs as a miscellaneous itemized deduction subject to the 2%-of-adjusted-gross-income limit on Schedule A (Form 1040). H&r block free tax return For information about miscellaneous deductions, see chapter 28. H&r block free tax return Adjusted Basis Adjusted basis is your basis in the property (usually cost) increased or decreased by various events, such as improvements and casualty losses. H&r block free tax return For more information, see chapter 13. H&r block free tax return Insurance and Other Reimbursements If you receive an insurance payment or other type of reimbursement, you must subtract the reimbursement when you figure your loss. H&r block free tax return You do not have a casualty or theft loss to the extent you are reimbursed. H&r block free tax return If you expect to be reimbursed for part or all of your loss, you must subtract the expected reimbursement when you figure your loss. H&r block free tax return You must reduce your loss even if you do not receive payment until a later tax year. H&r block free tax return See Reimbursement Received After Deducting Loss , later. H&r block free tax return Failure to file a claim for reimbursement. H&r block free tax return   If your property is covered by insurance, you must file a timely insurance claim for reimbursement of your loss. H&r block free tax return Otherwise, you cannot deduct this loss as a casualty or theft loss. H&r block free tax return However, this rule does not apply to the portion of the loss not covered by insurance (for example, a deductible). H&r block free tax return Example. H&r block free tax return You have a car insurance policy with a $1,000 deductible. H&r block free tax return Because your insurance did not cover the first $1,000 of an auto collision, the $1,000 would be deductible (subject to the deduction limits discussed later). H&r block free tax return This is true even if you do not file an insurance claim, because your insurance policy would never have reimbursed you for the deductible. H&r block free tax return Types of Reimbursements The most common type of reimbursement is an insurance payment for your stolen or damaged property. H&r block free tax return Other types of reimbursements are discussed next. H&r block free tax return Also see the Instructions for Form 4684. H&r block free tax return Employer's emergency disaster fund. H&r block free tax return   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. H&r block free tax return Take into consideration only the amount you used to replace your destroyed or damaged property. H&r block free tax return Example. H&r block free tax return Your home was extensively damaged by a tornado. H&r block free tax return Your loss after reimbursement from your insurance company was $10,000. H&r block free tax return Your employer set up a disaster relief fund for its employees. H&r block free tax return Employees receiving money from the fund had to use it to rehabilitate or replace their damaged or destroyed property. H&r block free tax return You received $4,000 from the fund and spent the entire amount on repairs to your home. H&r block free tax return In figuring your casualty loss, you must reduce your unreimbursed loss ($10,000) by the $4,000 you received from your employer's fund. H&r block free tax return Your casualty loss before applying the deduction limits discussed later is $6,000. H&r block free tax return Cash gifts. H&r block free tax return   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. H&r block free tax return This applies even if you use the money to pay for repairs to property damaged in the disaster. H&r block free tax return Example. H&r block free tax return Your home was damaged by a hurricane. H&r block free tax return Relatives and neighbors made cash gifts to you that were excludable from your income. H&r block free tax return You used part of the cash gifts to pay for repairs to your home. H&r block free tax return There were no limits or restrictions on how you could use the cash gifts. H&r block free tax return Because it was an excludable gift, the money you received and used to pay for repairs to your home does not reduce your casualty loss on the damaged home. H&r block free tax return Insurance payments for living expenses. H&r block free tax return   You do not reduce your casualty loss by insurance payments you receive to cover living expenses in either of the following situations. H&r block free tax return You lose the use of your main home because of a casualty. H&r block free tax return Government authorities do not allow you access to your main home because of a casualty or threat of one. H&r block free tax return Inclusion in income. H&r block free tax return   If these insurance payments are more than the temporary increase in your living expenses, you must include the excess in your income. H&r block free tax return Report this amount on Form 1040, line 21. H&r block free tax return However, if the casualty occurs in a federally declared disaster area, none of the insurance payments are taxable. H&r block free tax return See Qualified disaster relief payments, under Disaster Area Losses in Publication 547. H&r block free tax return   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. H&r block free tax return Actual living expenses are the reasonable and necessary expenses incurred because of the loss of your main home. H&r block free tax return Generally, these expenses include the amounts you pay for the following. H&r block free tax return Rent for suitable housing. H&r block free tax return Transportation. H&r block free tax return Food. H&r block free tax return Utilities. H&r block free tax return Miscellaneous services. H&r block free tax return 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. H&r block free tax return Example. H&r block free tax return As a result of a fire, you vacated your apartment for a month and moved to a motel. H&r block free tax return You normally pay $525 a month for rent. H&r block free tax return None was charged for the month the apartment was vacated. H&r block free tax return Your motel rent for this month was $1,200. H&r block free tax return You normally pay $200 a month for food. H&r block free tax return Your food expenses for the month you lived in the motel were $400. H&r block free tax return You received $1,100 from your insurance company to cover your living expenses. H&r block free tax return You determine the payment you must include in income as follows. H&r block free tax return 1) Insurance payment for living expenses $1,100 2) Actual expenses during the month you are unable to use your home because of fire 1,600   3) Normal living expenses 725   4) Temporary increase in living  expenses: Subtract line 3 from line 2 875 5) Amount of payment includible  in income: Subtract line 4  from line 1 $ 225 Tax year of inclusion. H&r block free tax return   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. H&r block free tax return Example. H&r block free tax return Your main home was destroyed by a tornado in August 2011. H&r block free tax return You regained use of your home in November 2012. H&r block free tax return The insurance payments you received in 2011 and 2012 were $1,500 more than the temporary increase in your living expenses during those years. H&r block free tax return You include this amount in income on your 2012 Form 1040. H&r block free tax return 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. H&r block free tax return Disaster relief. H&r block free tax return   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. H&r block free tax return Qualified disaster relief payments you receive for expenses you incurred as a result of a federally declared disaster are not taxable income to you. H&r block free tax return For more information, see Disaster Area Losses in Publication 547. H&r block free tax return Disaster unemployment assistance payments are unemployment benefits that are taxable. H&r block free tax return Generally, disaster relief grants and qualified disaster mitigation payments made under the Robert T. H&r block free tax return Stafford Disaster Relief and Emergency Assistance Act or the National Flood Insurance Act (as in effect on April 15, 2005) are not includible in your income. H&r block free tax return See Disaster Area Losses in Publication 547. H&r block free tax return Reimbursement Received After Deducting Loss If you figured your casualty or theft loss using your expected reimbursement, you may have to adjust your tax return for the tax year in which you receive your actual reimbursement. H&r block free tax return This section explains the adjustment you may have to make. H&r block free tax return Actual reimbursement less than expected. H&r block free tax return   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. H&r block free tax return Example. H&r block free tax return Your personal car had an FMV of $2,000 when it was destroyed in a collision with another car in 2012. H&r block free tax return The accident was due to the negligence of the other driver. H&r block free tax return At the end of 2012, there was a reasonable prospect that the owner of the other car would reimburse you in full. H&r block free tax return You did not have a deductible loss in 2012. H&r block free tax return In January 2013, the court awarded you a judgment of $2,000. H&r block free tax return However, in July it became apparent that you will be unable to collect any amount from the other driver. H&r block free tax return You can deduct the loss in 2013 subject to the limits discussed later. H&r block free tax return Actual reimbursement more than expected. H&r block free tax return   If you later receive more reimbursement than you expected after you claimed a deduction for the loss, you may have to include the extra reimbursement in your income for the year you receive it. H&r block free tax return 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. H&r block free tax return You do not refigure your tax for the year you claimed the deduction. H&r block free tax return For more information, see Recoveries in chapter 12. H&r block free tax return 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. H&r block free tax return 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. H&r block free tax return Include the gain as ordinary income up to the amount of your deduction that reduced your tax for the earlier year. H&r block free tax return See Figuring a Gain in Publication 547 for more information on how to treat a gain from the reimbursement of a casualty or theft. H&r block free tax return Actual reimbursement same as expected. H&r block free tax return   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. H&r block free tax return Example. H&r block free tax return In December 2013, you had a collision while driving your personal car. H&r block free tax return Repairs to the car cost $950. H&r block free tax return You had $100 deductible collision insurance. H&r block free tax return Your insurance company agreed to reimburse you for the rest of the damage. H&r block free tax return Because you expected a reimbursement from the insurance company, you did not have a casualty loss deduction in 2013. H&r block free tax return Due to the $100 rule (discussed later under Deduction Limits ), you cannot deduct the $100 you paid as the deductible. H&r block free tax return When you receive the $850 from the insurance company in 2014, do not report it as income. H&r block free tax return Single Casualty on Multiple Properties Personal property. H&r block free tax return   Personal property is any property that is not real property. H&r block free tax return 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. H&r block free tax return Then combine these separate losses to figure the total loss from that casualty or theft. H&r block free tax return Example. H&r block free tax return A fire in your home destroyed an upholstered chair, an oriental rug, and an antique table. H&r block free tax return You did not have fire insurance to cover your loss. H&r block free tax return (This was the only casualty or theft you had during the year. H&r block free tax return ) You paid $750 for the chair and you established that it had an FMV of $500 just before the fire. H&r block free tax return The rug cost $3,000 and had an FMV of $2,500 just before the fire. H&r block free tax return You bought the table at an auction for $100 before discovering it was an antique. H&r block free tax return It had been appraised at $900 before the fire. H&r block free tax return You figure your loss on each of these items as follows:     Chair Rug Table 1) Basis (cost) $750 $3,000 $100 2) FMV before fire $500 $2,500 $900 3) FMV after fire –0– –0– –0– 4) Decrease in FMV $500 $2,500 $900 5) Loss (smaller of (1) or  (4)) $500 $2,500 $100           6) Total loss     $3,100 Real property. H&r block free tax return   In figuring a casualty loss on personal-use real property, treat the entire property (including any improvements, such as buildings, trees, and shrubs) as one item. H&r block free tax return Figure the loss using the smaller of the adjusted basis or the decrease in FMV of the entire property. H&r block free tax return Example. H&r block free tax return You bought your home a few years ago. H&r block free tax return You paid $160,000 ($20,000 for the land and $140,000 for the house). H&r block free tax return You also spent $2,000 for landscaping. H&r block free tax return This year a fire destroyed your home. H&r block free tax return The fire also damaged the shrubbery and trees in your yard. H&r block free tax return The fire was your only casualty or theft loss this year. H&r block free tax return Competent appraisers valued the property as a whole at $200,000 before the fire, but only $30,000 after the fire. H&r block free tax return (The loss to your household furnishings is not shown in this example. H&r block free tax return It would be figured separately on each item, as explained earlier under Personal property . H&r block free tax return ) Shortly after the fire, the insurance company paid you $155,000 for the loss. H&r block free tax return You figure your casualty loss as follows: 1) Adjusted basis of the entire property (land, building, and landscaping) $162,000 2) FMV of entire property before fire $200,000 3) FMV of entire property after fire 30,000 4) Decrease in FMV of entire  property $170,000 5) Loss (smaller of (1) or (4)) $162,000 6) Subtract insurance 155,000 7) Amount of loss after reimbursement $7,000 Deduction Limits After you have figured your casualty or theft loss, you must figure how much of the loss you can deduct. H&r block free tax return If the loss was to property for your personal use or your family's use, there are two limits on the amount you can deduct for your casualty or theft loss. H&r block free tax return You must reduce each casualty or theft loss by $100 ($100 rule). H&r block free tax return You must further reduce the total of all your casualty or theft losses by 10% of your adjusted gross income (10% rule). H&r block free tax return You make these reductions on Form 4684. H&r block free tax return These rules are explained next and Table 25-1 summarizes how to apply the $100 rule and the 10% rule in various situations. H&r block free tax return For more detailed explanations and examples, see Publication 547. H&r block free tax return Table 25-1. H&r block free tax return How To Apply the Deduction Limits for Personal-Use Property   $100 Rule 10% Rule General Application You must reduce each casualty or theft loss by $100 when figuring your deduction. H&r block free tax return Apply this rule after you have figured the amount of your loss. H&r block free tax return You must reduce your total casualty or theft loss by 10% of your adjusted gross income. H&r block free tax return Apply this rule after you reduce each loss by $100 (the $100 rule). H&r block free tax return Single Event Apply this rule only once, even if many pieces of property are affected. H&r block free tax return Apply this rule only once, even if many pieces of property are affected. H&r block free tax return More Than One Event Apply to the loss from each event. H&r block free tax return Apply to the total of all your losses from all events. H&r block free tax return More Than One Person— With Loss From the Same Event (other than a married couple filing jointly) Apply separately to each person. H&r block free tax return Apply separately to each person. H&r block free tax return Married Couple—With Loss From the Same Event Filing Jointly Apply as if you were one person. H&r block free tax return Apply as if you were one person. H&r block free tax return Filing Separately Apply separately to each spouse. H&r block free tax return Apply separately to each spouse. H&r block free tax return More Than One Owner (other than a married couple filing jointly) Apply separately to each owner of jointly owned property. H&r block free tax return Apply separately to each owner of jointly owned property. H&r block free tax return Property used partly for business and partly for personal purposes. H&r block free tax return   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 part and for the business or income-producing part. H&r block free tax return You must figure each loss separately because the $100 rule and the 10% rule apply only to the loss on the personal-use part of the property. H&r block free tax return $100 Rule After you have figured your casualty or theft loss on personal-use property, you must reduce that loss by $100. H&r block free tax return This reduction applies to each total casualty or theft loss. H&r block free tax return It does not matter how many pieces of property are involved in an event. H&r block free tax return Only a single $100 reduction applies. H&r block free tax return Example. H&r block free tax return A hailstorm damages your home and your car. H&r block free tax return Determine the amount of loss, as discussed earlier, for each of these items. H&r block free tax return Since the losses are due to a single event, you combine the losses and reduce the combined amount by $100. H&r block free tax return Single event. H&r block free tax return   Generally, events closely related in origin cause a single casualty. H&r block free tax return 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. H&r block free tax return 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. H&r block free tax return Apply this rule after you reduce each loss by $100. H&r block free tax return For more information, see the Form 4684 instructions. H&r block free tax return If you have both gains and losses from casualties or thefts, see Gains and losses , later in this discussion. H&r block free tax return Example 1. H&r block free tax return In June, you discovered that your house had been burglarized. H&r block free tax return Your loss after insurance reimbursement was $2,000. H&r block free tax return Your adjusted gross income for the year you discovered the theft is $29,500. H&r block free tax return You first apply the $100 rule and then the 10% rule. H&r block free tax return Figure your theft loss deduction as follows. H&r block free tax return 1) Loss after insurance $2,000 2) Subtract $100 100 3) Loss after $100 rule $1,900 4) Subtract 10% × $29,500 AGI 2,950 5) Theft loss deduction –0– You do not have a theft loss deduction because your loss after you apply the $100 rule ($1,900) is less than 10% of your adjusted gross income ($2,950). H&r block free tax return Example 2. H&r block free tax return In March, you had a car accident that totally destroyed your car. H&r block free tax return You did not have collision insurance on your car, so you did not receive any insurance reimbursement. H&r block free tax return Your loss on the car was $1,800. H&r block free tax return In November, a fire damaged your basement and totally destroyed the furniture, washer, dryer, and other items stored there. H&r block free tax return Your loss on the basement items after reimbursement was $2,100. H&r block free tax return Your adjusted gross income for the year that the accident and fire occurred is $25,000. H&r block free tax return You figure your casualty loss deduction as follows. H&r block free tax return       Base-     Car ment 1) Loss $1,800 $2,100 2) Subtract $100 per incident 100 100 3) Loss after $100 rule $1,700 $2,000 4) Total loss $3,700 5) Subtract 10% × $25,000 AGI 2,500 6) Casualty loss deduction $1,200 Gains and losses. H&r block free tax return   If you had both gains and losses from casualties or thefts to personal-use property, you must compare your total gains to your total losses. H&r block free tax return 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. H&r block free tax return Casualty or theft gains do not include gains you choose to postpone. H&r block free tax return See Publication 547 for information on the postponement of gain. H&r block free tax return Losses more than gains. H&r block free tax return   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. H&r block free tax return The rest, if any, is your deductible loss from personal-use property. H&r block free tax return Gains more than losses. H&r block free tax return   If your recognized gains are more than your losses, subtract your losses from your gains. H&r block free tax return The difference is treated as capital gain and must be reported on Schedule D (Form 1040). H&r block free tax return The 10% rule does not apply to your gains. H&r block free tax return When To Report Gains and Losses Gains. H&r block free tax return   If you receive an insurance or other reimbursement that is more than your adjusted basis in the destroyed or stolen property, you have a gain from the casualty or theft. H&r block free tax return You must include this gain in your income in the year you receive the reimbursement, unless you choose to postpone reporting the gain as explained in Publication 547. H&r block free tax return If you have a loss, see Table 25-2 . H&r block free tax return Table 25-2. H&r block free tax return When To Deduct a Loss IF you have a loss. H&r block free tax return . H&r block free tax return . H&r block free tax return THEN deduct it in the year. H&r block free tax return . H&r block free tax return . H&r block free tax return from a casualty, the loss occurred. H&r block free tax return in a federally declared disaster area, the disaster occurred or the year immediately before the disaster. H&r block free tax return from a theft, the theft was discovered. H&r block free tax return on a deposit treated as a:   • casualty or any ordinary loss, a reasonable estimate can be made. H&r block free tax return • bad debt, deposits are totally worthless. H&r block free tax return Losses. H&r block free tax return   Generally, you can deduct a casualty loss that is not reimbursable only in the tax year in which the casualty occurred. H&r block free tax return This is true even if you do not repair or replace the damaged property until a later year. H&r block free tax return   You can deduct theft losses that are not reimbursable only in the year you discover your property was stolen. H&r block free tax return   If you are not sure whether part of your casualty or theft loss will be reimbursed, do not deduct that part until the tax year when you become reasonably certain that it will not be reimbursed. H&r block free tax return Loss on deposits. H&r block free tax return   If your loss is a loss on deposits in an insolvent or bankrupt financial institution, see Loss on Deposits , earlier. H&r block free tax return Disaster Area Loss You generally must deduct a casualty loss in the year it occurred. H&r block free tax return However, if you have a casualty loss from a federally declared disaster that occurred in an area warranting public or individual assistance (or both), you can choose to deduct the loss on your tax return or amended return for either of the following years. H&r block free tax return The year the disaster occurred. H&r block free tax return The year immediately preceding the year the disaster occurred. H&r block free tax return Gains. H&r block free tax return    Special rules apply if you choose to postpone reporting gain on property damaged or destroyed in a federally declared disaster area. H&r block free tax return For those special rules, see Publication 547. H&r block free tax return Postponed tax deadlines. H&r block free tax return   The IRS may postpone for up to 1 year certain tax deadlines of taxpayers who are affected by a federally declared disaster. H&r block free tax return The tax deadlines the IRS may postpone include those for filing income and employment tax returns, paying income and employment taxes, and making contributions to a traditional IRA or Roth IRA. H&r block free tax return   If any tax deadline is postponed, the IRS will publicize the postponement in your area by publishing a news release, revenue ruling, revenue procedure, notice, announcement, or other guidance in the Internal Revenue Bulletin (IRB). H&r block free tax return Go to www. H&r block free tax return irs. H&r block free tax return gov/uac/Tax-Relief-in-Disaster-Situations to find out if a tax deadline has been postponed for your area. H&r block free tax return Who is eligible. H&r block free tax return   If the IRS postpones a tax deadline, the following taxpayers are eligible for the postponement. H&r block free tax return Any individual whose main home is located in a covered disaster area (defined next). H&r block free tax return Any business entity or sole proprietor whose principal place of business is located in a covered disaster area. H&r block free tax return Any individual who is a relief worker affiliated with a recognized government or philanthropic organization who is assisting in a covered disaster area. H&r block free tax return Any individual, business entity, or sole proprietorship whose records are needed to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. H&r block free tax return The main home or principal place of business does not have to be located in the covered disaster area. H&r block free tax return Any estate or trust that has tax records necessary to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. H&r block free tax return The spouse on a joint return with a taxpayer who is eligible for postponements. H&r block free tax return Any individual, business entity, or sole proprietorship not located in a covered disaster area, but whose records necessary to meet a postponed tax deadline are located in the covered disaster area. H&r block free tax return Any individual visiting the covered disaster area who was killed or injured as a result of the disaster. H&r block free tax return Any other person determined by the IRS to be affected by a federally declared disaster. H&r block free tax return Covered disaster area. H&r block free tax return   This is an area of a federally declared disaster in which the IRS has decided to postpone tax deadlines for up to 1 year. H&r block free tax return Abatement of interest and penalties. H&r block free tax return   The IRS may abate the interest and penalties on underpaid income tax for the length of any postponement of tax deadlines. H&r block free tax return More information. H&r block free tax return   For more information, see Disaster Area Losses in Publication 547. H&r block free tax return How To Report Gains and Losses Use Form 4684 to report a gain or a deductible loss from a casualty or theft. H&r block free tax return If you have more than one casualty or theft, use a separate Form 4684 to determine your gain or loss for each event. H&r block free tax return Combine the gains and losses on one Form 4684. H&r block free tax return Follow the form instructions as to which lines to fill out. H&r block free tax return In addition, you must use the appropriate schedule to report a gain or loss. H&r block free tax return The schedule you use depends on whether you have a gain or loss. H&r block free tax return If you have a: Report it on: Gain Schedule D (Form 1040) Loss Schedule A (Form 1040) Adjustments to basis. H&r block free tax return   If you have a casualty or theft loss, you must decrease your basis in the property by any insurance or other reimbursement you receive, and by any deductible loss. H&r block free tax return Amounts you spend to restore your property after a casualty increase your adjusted basis. H&r block free tax return See Adjusted Basis in chapter 13 for more information. H&r block free tax return Net operating loss (NOL). H&r block free tax return    If your casualty or theft loss deduction causes your deductions for the year to be more than your income for the year, you may have an NOL. H&r block free tax return You can use an NOL to lower your tax in an earlier year, allowing you to get a refund for tax you have already paid. H&r block free tax return Or, you can use it to lower your tax in a later year. H&r block free tax return You do not have to be in business to have an NOL from a casualty or theft loss. H&r block free tax return For more information, see Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts. H&r block free tax return Prev  Up  Next   Home   More Online Publications
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The H&r Block Free Tax Return

H&r block free tax return Part Two -   Income The eight chapters in this part discuss many kinds of income. H&r block free tax return They explain which income is and is not taxed. H&r block free tax return See Part Three for information on gains and losses you report on Form 8949 and Schedule D (Form 1040) and for information on selling your home. H&r block free tax return Table of Contents 5. H&r block free tax return   Wages, Salaries, and Other EarningsReminder Introduction Useful Items - You may want to see: Employee CompensationBabysitting. H&r block free tax return Miscellaneous Compensation Fringe Benefits Retirement Plan Contributions Stock Options Restricted Property Special Rules for Certain EmployeesClergy Members of Religious Orders Foreign Employer Military Volunteers Sickness and Injury BenefitsDisability Pensions Long-Term Care Insurance Contracts Workers' Compensation Other Sickness and Injury Benefits 6. H&r block free tax return   Tip IncomeIntroduction Useful Items - You may want to see: Keeping a Daily Tip RecordElectronic tip record. H&r block free tax return Reporting Tips to Your EmployerElectronic tip statement. H&r block free tax return Final report. H&r block free tax return Reporting Tips on Your Tax Return Allocated Tips 7. H&r block free tax return   Interest IncomeReminder Introduction Useful Items - You may want to see: General InformationSSN for joint account. H&r block free tax return Custodian account for your child. H&r block free tax return Penalty for failure to supply SSN. H&r block free tax return Reporting backup withholding. H&r block free tax return Savings account with parent as trustee. H&r block free tax return Interest not reported on Form 1099-INT. H&r block free tax return Nominees. H&r block free tax return Incorrect amount. H&r block free tax return Information reporting requirement. H&r block free tax return Taxable InterestInterest subject to penalty for early withdrawal. H&r block free tax return Money borrowed to invest in certificate of deposit. H&r block free tax return U. H&r block free tax return S. H&r block free tax return Savings Bonds Education Savings Bond Program U. H&r block free tax return S. H&r block free tax return Treasury Bills, Notes, and Bonds Bonds Sold Between Interest Dates Insurance State or Local Government Obligations Original Issue Discount (OID) When To Report Interest IncomeConstructive receipt. H&r block free tax return How To Report Interest IncomeSchedule B (Form 1040A or 1040). H&r block free tax return Reporting tax-exempt interest. H&r block free tax return U. H&r block free tax return S. H&r block free tax return savings bond interest previously reported. H&r block free tax return 8. H&r block free tax return   Dividends and Other DistributionsReminder Introduction Useful Items - You may want to see: General InformationDividends not reported on Form 1099-DIV. H&r block free tax return Reporting tax withheld. H&r block free tax return Nominees. H&r block free tax return Ordinary DividendsQualified Dividends Dividends Used to Buy More Stock Money Market Funds Capital Gain DistributionsBasis adjustment. H&r block free tax return Nondividend DistributionsLiquidating Distributions Distributions of Stock and Stock Rights Other DistributionsInformation reporting requirement. H&r block free tax return Alternative minimum tax treatment. H&r block free tax return How To Report Dividend IncomeInvestment interest deducted. H&r block free tax return 9. H&r block free tax return   Rental Income and ExpensesIntroduction Useful Items - You may want to see: Rental Income Rental ExpensesVacant while listed for sale. H&r block free tax return Repairs and Improvements Other Expenses Property Changed to Rental Use Renting Part of Property Not Rented for Profit Personal Use of Dwelling Unit (Including Vacation Home)Example. H&r block free tax return Dividing Expenses Dwelling Unit Used as a Home Reporting Income and Deductions DepreciationChanging your accounting method to deduct unclaimed depreciation. H&r block free tax return Limits on Rental LossesAt-Risk Rules Passive Activity Limits How To Report Rental Income and ExpensesSchedule E (Form 1040) 10. H&r block free tax return   Retirement Plans, Pensions, and AnnuitiesWhat's New Reminder IntroductionThe General Rule. H&r block free tax return Individual retirement arrangements (IRAs). H&r block free tax return Civil service retirement benefits. H&r block free tax return Useful Items - You may want to see: General InformationIn-plan rollovers to designated Roth accounts. H&r block free tax return How To Report Cost (Investment in the Contract) Taxation of Periodic PaymentsExclusion limited to cost. H&r block free tax return Exclusion not limited to cost. H&r block free tax return Simplified Method Taxation of Nonperiodic PaymentsLump-Sum Distributions RolloversIn-plan rollovers to designated Roth accounts. H&r block free tax return Special Additional TaxesTax on Early Distributions Tax on Excess Accumulation Survivors and Beneficiaries 11. H&r block free tax return   Social Security and Equivalent Railroad Retirement BenefitsIntroduction Useful Items - You may want to see: Are Any of Your Benefits Taxable? How To Report Your BenefitsHow Much Is Taxable? Examples Deductions Related to Your BenefitsRepayments More Than Gross Benefits 12. H&r block free tax return   Other IncomeIntroduction Useful Items - You may want to see: Bartering Canceled DebtsInterest included in canceled debt. H&r block free tax return Exceptions Host or Hostess Life Insurance ProceedsSurviving spouse. H&r block free tax return Endowment Contract Proceeds Accelerated Death Benefits Public Safety Officer Killed in the Line of Duty Partnership Income S Corporation Income RecoveriesItemized Deduction Recoveries Rents from Personal Property RepaymentsMethod 1. H&r block free tax return Method 2. H&r block free tax return RoyaltiesDepletion. H&r block free tax return Coal and iron ore. H&r block free tax return Sale of property interest. H&r block free tax return Part of future production sold. H&r block free tax return Unemployment BenefitsTypes of unemployment compensation. H&r block free tax return Governmental program. H&r block free tax return Repayment of unemployment compensation. H&r block free tax return Tax withholding. H&r block free tax return Repayment of benefits. H&r block free tax return Welfare and Other Public Assistance Benefits Other IncomeEmotional distress. H&r block free tax return Deduction for costs involved in unlawful discrimination suits. H&r block free tax return Energy conservation measure. H&r block free tax return Dwelling unit. H&r block free tax return Current income required to be distributed. H&r block free tax return Current income not required to be distributed. H&r block free tax return How to report. H&r block free tax return Losses. H&r block free tax return Grantor trust. H&r block free tax return Nonemployee compensation. H&r block free tax return Corporate director. H&r block free tax return Personal representatives. H&r block free tax return Manager of trade or business for bankruptcy estate. H&r block free tax return Notary public. H&r block free tax return Election precinct official. H&r block free tax return Difficulty-of-care payments. H&r block free tax return Maintaining space in home. H&r block free tax return Reporting taxable payments. H&r block free tax return Lotteries and raffles. H&r block free tax return Form W-2G. H&r block free tax return Reporting winnings and recordkeeping. H&r block free tax return Inherited pension or IRA. H&r block free tax return Employee awards or bonuses. H&r block free tax return Pulitzer, Nobel, and similar prizes. H&r block free tax return Payment for services. H&r block free tax return VA payments. H&r block free tax return Prizes. H&r block free tax return Strike and lockout benefits. H&r block free tax return Prev  Up  Next   Home   More Online Publications