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How To Do A 1040x Form

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How To Do A 1040x Form

How to do a 1040x form Publication 17(SP) - Introductory Material Table of Contents Qué Hay de Nuevo Recordatorios IntroductionIconos. How to do a 1040x form Para pedir formularios y publicaciones. How to do a 1040x form Preguntas sobre los impuestos. How to do a 1040x form Todo material en esta publicación puede ser reimpreso gratuitamente. How to do a 1040x form Una referencia a El Impuesto Federal sobre los Ingresos (2013) sería apropiada. How to do a 1040x form Las explicaciones y ejemplos en esta publicación representan la interpretación del Servicio de Impuestos Internos (IRS, por sus siglas en inglés) con respecto a: Leyes tributarias promulgadas por el Congreso de los Estados Unidos, Reglamentos del Departamento del Tesoro de los Estados Unidos y Decisiones de los tribunales. How to do a 1040x form Sin embargo, la información provista no abarca cada situación y no se presenta con la intención de reemplazar la ley o cambiar su significado. How to do a 1040x form Esta publicación abarca ciertos temas sobre los cuales un tribunal puede haber dictado un fallo más favorable para los contribuyentes que la interpretación hecha por el IRS. How to do a 1040x form Hasta que estas interpretaciones divergentes sean resueltas por fallos o decretos de un tribunal superior o de alguna otra manera, esta publicación continuará presentando las interpretaciones hechas por el IRS. How to do a 1040x form Todos los contribuyentes tienen derechos importantes cuando tratan con el IRS. How to do a 1040x form Estos derechos están descritos en la sección titulada Derechos del Contribuyente , al final de esta publicación. How to do a 1040x form Qué Hay de Nuevo Esta sección resume ciertos cambios tributarios importantes que entraron en vigor en el año 2013. How to do a 1040x form La mayor parte de estos cambios se abordan en más detalle en esta publicación. How to do a 1040x form Acontecimientos futuros. How to do a 1040x form  Si desea obtener la información más reciente sobre temas de ley tributaria que se explican en esta publicación, incluyendo toda información sobre legislación tributaria, acceda a www. How to do a 1040x form irs. How to do a 1040x form gov/pub17sp. How to do a 1040x form Impuesto Adicional del Medicare. How to do a 1040x form  Comenzando en el año 2013, le corresponderá un Impuesto Adicional del Medicare de 0. How to do a 1040x form 9% sobre los salarios, la compensación por jubilación ferroviaria (RRTA, por sus siglas en inglés) y el ingreso sobre el trabajo por cuenta propia que están sujetos al impuesto al Medicare. How to do a 1040x form El impuesto corresponde si estos ingresos son mayores que: $125,000, si es casado que presenta una declaración por separado, $250,000, si es casado que presenta una declaración conjunta o $200,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. How to do a 1040x form Si desea más información, vea el Formulario 8959 y sus Instrucciones, disponibles en inglés. How to do a 1040x form Impuesto sobre los ingresos netos de inversión. How to do a 1040x form  Comenzando en el año 2013, usted podría estar sujeto al impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). How to do a 1040x form Este impuesto es el 3. How to do a 1040x form 8% de la cantidad menor entre (a) su ingreso neto de inversión o (b) la cantidad en exceso de su ingreso bruto ajustado modificado sobre: $125,000, si es casado que presenta una declaración por separado, $250,000, si es casado que presenta una declaración conjunta o si es viudo calificado o $200,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. How to do a 1040x form Si desea más información, vea el Formulario 8960 y sus Instrucciones, disponibles en inglés. How to do a 1040x form Cambio en las tasas tributarias. How to do a 1040x form  La tasa tributaria mayor es de 39. How to do a 1040x form 6%. How to do a 1040x form Si desea más información, vea la Hoja de Trabajo para el Cálculo del Impuesto del Año 2013 o las Tasas Impositivas de 2013 , las cuales se encuentran al final de esta publicación. How to do a 1040x form Tasa tributaria sobre las ganancias netas de capital y dividendos calificados. How to do a 1040x form  La tasa tributaria máxima de 15% sobre las ganancias netas de capital y los dividendos calificados ha aumentado a 20% para algunos contribuyentes. How to do a 1040x form Vea el capítulo 16 . How to do a 1040x form Gastos médicos y dentales. How to do a 1040x form  Usted puede deducir solamente la parte de sus gastos médicos y dentales que sea mayor que el 10% de su ingreso bruto ajustado (7. How to do a 1040x form 5% si usted o su cónyuge tiene 65 años de edad o más). How to do a 1040x form Vea el capítulo 21 . How to do a 1040x form Aumento de la cantidad de la exención personal para determinados contribuyentes. How to do a 1040x form  La exención personal que le corresponde a usted ha aumentado a $3,900. How to do a 1040x form Pero, esta cantidad se reduce si su ingreso bruto ajustado es mayor que: $150,000, si es casado que presenta una declaración por separado, $250,000, si es soltero, $275,000, si es cabeza de familia o $300,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. How to do a 1040x form Vea el capítulo 3 . How to do a 1040x form Límite sobre las deducciones detalladas. How to do a 1040x form  Usted puede que no tenga derecho de deducir todas sus deducciones detalladas si su ingreso bruto ajustado es mayor que: $150,000, si es casado que presenta una declaración por separado, $250,000, si es soltero, $275,000, si es cabeza de familia o $300,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. How to do a 1040x form Vea el capítulo 29 . How to do a 1040x form Matrimonio entre el mismo sexo. How to do a 1040x form  Si tiene un cónyuge de su mismo sexo con quien usted se casó en un estado (o jurisdicción o país extranjero) que reconoce el matrimonio entre personas del mismo sexo, usted y su cónyuge tienen que utilizar el estado civil para efectos de la declaración de casados que presentan una declaración conjunta o casado que presenta la declaración por separado en su declaración del año 2013. How to do a 1040x form Utilice uno de estos estados civiles para efectos de la declaración aunque usted y su cónyuge en la actualidad vivan en un estado (o jurisdicción o país extranjero) en donde no se reconozca el matrimonio entre personas del mismo sexo. How to do a 1040x form Vea el capítulo 2 . How to do a 1040x form Si reúne ciertos requisitos, quizás podría presentar declaraciones enmendadas para cambiar su estado civil para efectos de la declaración para algunos años anteriores. How to do a 1040x form Si desea saber más detalles sobre declaraciones enmendadas, vea el capítulo 1 . How to do a 1040x form Cuenta flexible de ahorros para gastos médicos (FSA, por sus siglas en inglés). How to do a 1040x form  Comenzando con los años del plan después de 2012, usted no puede hacer aportaciones mediante la reducción de salarios mayores de $2,500 a cuentas flexibles de ahorros para gastos médicos (FSA, por sus siglas en inglés). How to do a 1040x form Vea el capítulo 5 . How to do a 1040x form Créditos tributarios que vencen. How to do a 1040x form  El crédito por vehículo eléctrico enchufable y la parte reembolsable del crédito del impuesto mínimo de años anteriores ha vencido. How to do a 1040x form Usted no puede reclamar ninguno de éstos en su declaración del año 2013. How to do a 1040x form Vea el capítulo 37 . How to do a 1040x form Esquemas de inversión de tipo Ponzi. How to do a 1040x form  Hay nuevas reglas sobre cómo reclamar una deducción en el Formulario 4684, en inglés, debido a una pérdida por robo por un esquema de inversión de tipo Ponzi. How to do a 1040x form Vea el capítulo 25 . How to do a 1040x form Método simplificado para la deducción por oficina en el hogar. How to do a 1040x form  Si usted puede tomar una deducción por tener una oficina en su hogar, quizás pueda utilizar un método simplificado para calcular dicha deducción. How to do a 1040x form Vea la Publicación 587, disponible en inglés. How to do a 1040x form Tarifas estándar por milla. How to do a 1040x form  Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil para uso comercial ha aumentado a 56½ centavos por milla. How to do a 1040x form Vea el capítulo 26 . How to do a 1040x form Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil por razones médicas ha aumentado a 24 centavos por milla. How to do a 1040x form Vea el capítulo 21 . How to do a 1040x form Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil para determinar los gastos de mudanza ha aumentado a 24 centavos por milla. How to do a 1040x form Vea la Publicación 521, Moving Expenses (Gastos de mudanza), en inglés. How to do a 1040x form Recordatorios A continuación aparecen recordatorios importantes y otros asuntos que le podrían ayudar a presentar su declaración de impuestos del año 2013. How to do a 1040x form Muchos de estos asuntos se explican más adelante en esta publicación. How to do a 1040x form Anote su número de Seguro Social (SSN, por sus siglas en inglés) en la declaración. How to do a 1040x form  Anote su número de Seguro Social (SSN, por sus siglas en inglés) en el espacio correspondiente de la declaración de impuestos. How to do a 1040x form Si presentó una declaración conjunta de impuestos en el año 2012 y presenta una declaración conjunta en el año 2013 con el mismo cónyuge, escriba los nombres y números de Seguro Social en el mismo orden en que lo hizo en el año 2012. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Proteja su documentación tributaria contra el robo de identidad. How to do a 1040x form  El robo de identidad ocurre cuando otra persona usa la información personal de usted sin su autorización para cometer fraude u otros delitos. How to do a 1040x form Dicha información personal podría ser su nombre, número de Seguro Social (SSN, por sus siglas en inglés) u otra información de identificación. How to do a 1040x form Un ladrón de identidad puede usar su SSN para obtener un empleo o puede presentar una declaración de impuestos usando su SSN robado para recibir un reembolso. How to do a 1040x form Si desea más información sobre el robo de identidad e información sobre cómo reducir su riesgo al robo de identidad, vea el capítulo 1 . How to do a 1040x form Números de identificación del contribuyente. How to do a 1040x form  Tiene que proveer el número de identificación del contribuyente de cada persona por la cual reclama ciertos beneficios tributarios. How to do a 1040x form Este requisito se aplica aun en el caso en que la persona haya nacido en el año 2013. How to do a 1040x form Por lo general, este número es el número de Seguro Social de la persona. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Ingreso de fuentes en el extranjero. How to do a 1040x form  Si es ciudadano de los Estados Unidos con ingresos provenientes de fuentes en el extranjero (ingresos del extranjero), tiene que declarar todos estos ingresos en su declaración de impuestos, a menos que estén exentos conforme a las leyes estadounidenses. How to do a 1040x form Esto es cierto tanto si vive dentro como fuera de los Estados Unidos e independientemente de si recibe o no un Formulario W-2 ó 1099 del pagador extranjero. How to do a 1040x form Esto corresponde al ingreso del trabajo (como salarios y propinas) y también al ingreso no derivado del trabajo (como intereses, dividendos, ganancias de capital, pensiones, alquileres y regalías). How to do a 1040x form Si reside fuera de los Estados Unidos, es posible que pueda excluir la totalidad o parte de su ingreso del trabajo procedente de fuentes en el extranjero. How to do a 1040x form Para más detalles, vea la Publicación 54, Tax Guide for U. How to do a 1040x form S. How to do a 1040x form Citizens and Resident Aliens Abroad (Guía tributaria para ciudadanos y residentes estadounidenses en el extranjero), en inglés. How to do a 1040x form Activos financieros extranjeros. How to do a 1040x form  Si tuvo activos financieros extranjeros en el 2013, es posible que tenga que presentar el nuevo Formulario 8938 con su declaración. How to do a 1040x form Vea www. How to do a 1040x form IRS. How to do a 1040x form gov/form8938, en inglés, para más detalles. How to do a 1040x form Prórroga automática de 6 meses para presentar la declaración de impuestos. How to do a 1040x form  Puede usar el Formulario 4868(SP), Solicitud de Prórroga Automática para Presentar la Declaración del Impuesto sobre el Ingreso Personal de los Estados Unidos (o el Formulario 4868, en inglés), para obtener una prórroga automática de 6 meses para presentar su declaración de impuestos. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Incluya su número de teléfono en la declaración. How to do a 1040x form  Para resolver rápidamente cualquier pregunta que necesitemos hacerle para tramitar su declaración, nos gustaría poder llamarlo. How to do a 1040x form Anote el número de teléfono donde podamos llamarlo durante el día, al lado del espacio donde firma la declaración de impuestos y donde aparece su ocupación. How to do a 1040x form Si usted presenta una declaración conjunta, puede anotar el número de teléfono suyo o el de su cónyuge. How to do a 1040x form Pago de los impuestos. How to do a 1040x form   Puede pagar sus impuestos a través de la Internet, a través del teléfono o por medio de cheque o giro. How to do a 1040x form Puede efectuar una transferencia directa de su cuenta bancaria o utilizar una tarjeta de crédito o débito. How to do a 1040x form Si presenta su declaración electrónicamente (por medio de e-file), puede programar un pago electrónico. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Maneras más rápidas de presentar su declaración. How to do a 1040x form  El IRS ofrece maneras rápidas y fiables de presentar la información tributaria sin tener que presentar una declaración en papel. How to do a 1040x form Puede usar el sistema electrónico e-file del IRS para presentar su declaración de impuestos. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Presentación electrónica gratuita de la declaración. How to do a 1040x form  Usted quizás pueda presentar su declaración de impuestos del año 2013 por Internet sin pagar cargo alguno. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Cambio de dirección. How to do a 1040x form  Si cambia de dirección, debe notificarle al IRS. How to do a 1040x form Vea el tema titulado Cambio de Dirección , en el capítulo 1. How to do a 1040x form Reembolsos de una declaración presentada fuera de plazo. How to do a 1040x form  Si a usted se le debe un reembolso pero no presentó una declaración, por lo general tendrá que presentar su declaración dentro de 3 años a partir de la fecha en que la declaración venció (incluidas prórrogas) para obtener ese reembolso. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Declaraciones de impuestos frívolas. How to do a 1040x form  El IRS ha publicado una lista de posturas identificadas como frívolas. How to do a 1040x form La multa por presentar una declaración de impuestos frívola es de $5,000. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Reclamación errónea de reembolso o crédito. How to do a 1040x form  Quizás tenga que pagar una multa si reclama erróneamente un reembolso o crédito. How to do a 1040x form Vea el capítulo 1 . How to do a 1040x form Información sobre la Ley de Confidencialidad de Información y la Ley de Reducción de Trámites. How to do a 1040x form   La IRS Restructuring and Reform Act of 1998 (Ley de Reestructuración y Reforma del Servicio de Impuestos Internos de 1998), la Privacy Act of 1974 (Ley de Confidencialidad de Información de 1974) y la Paperwork Reduction Act of 1980 (Ley de Reducción de Trámites de 1980) requieren que, cuando le solicitemos información, le informemos primero sobre cuál es nuestro derecho legal para solicitar esa información, por qué la estamos solicitando, cómo se usará la información, qué podría suceder si no la recibimos y si su respuesta es voluntaria, necesaria para obtener un beneficio u obligatoria conforme a la ley. How to do a 1040x form Una explicación completa sobre este tema puede encontrarse en las instrucciones de los formularios. How to do a 1040x form Servicio a los contribuyentes. How to do a 1040x form  Puede hacer una cita para recibir ayuda en persona en el Centro de Ayuda al Contribuyente más conveniente en el día laborable que más le convenga. How to do a 1040x form Vea el tema titulado Cómo Obtener Ayuda con los Impuestos , al final de esta publicación. How to do a 1040x form Mandato para preparadores de impuestos sobre el sistema e-file. How to do a 1040x form  La mayoría de los preparadores de impuestos remunerados que preparan y presentan declaraciones tienen que presentar electrónicamente por medio del sistema e-file. How to do a 1040x form Puede ser que su preparador le comunique sobre este requisito y las opciones que están a disposición suya. How to do a 1040x form Inspector General del Tesoro para la Administración Tributaria. How to do a 1040x form   Si desea denunciar confidencialmente la mala conducta, ineficacia, el fraude o abuso cometido por un empleado del IRS, puede llamar al 1-800-366-4484 (1-800-877-8339 para personas sordas, con limitación auditiva o que tienen impedimentos del habla, y que usen equipo TTY/TDD). How to do a 1040x form Puede mantenerse anónimo. How to do a 1040x form Fotografías de niños desaparecidos. How to do a 1040x form  El IRS se enorgullece en colaborar con el National Center for Missing and Exploited Children (Centro Nacional de Búsqueda de Niños Desaparecidos y Explotados). How to do a 1040x form Las fotografías de niños desaparecidos que han sido seleccionadas por el Centro pueden aparacer en esta publicación en páginas que de otra manera estarían en blanco. How to do a 1040x form Usted puede ayudar a que estos niños regresen a sus hogares mirando sus fotografías y llamando al número gratuito 1-800-THE-LOST (1-800-843-5678) si reconoce a un niño. How to do a 1040x form Introduction Esta publicación abarca las reglas generales para la presentación de una declaración federal de impuestos sobre el ingreso. How to do a 1040x form La publicación complementa la información contenida en las instrucciones para el formulario de impuestos. How to do a 1040x form Igualmente explica las leyes tributarias para asegurar que usted pague sólo los impuestos que adeuda y nada más. How to do a 1040x form Cómo está organizada esta publicación. How to do a 1040x form   Esta publicación sigue de cerca el Formulario 1040, U. How to do a 1040x form S. How to do a 1040x form Individual Income Tax Return (Declaración de impuestos de los Estados Unidos sobre los ingresos personales), disponible en inglés. How to do a 1040x form Está dividida en seis partes que abarcan distintas secciones del Formulario 1040. How to do a 1040x form Cada parte está subdividida en capítulos que normalmente explican una línea del formulario. How to do a 1040x form No se preocupe si presenta el Formulario 1040A o el Formulario 1040EZ. How to do a 1040x form Todo lo que está incluido en una línea de cualquiera de ambos formularios se incluye también en el Formulario 1040. How to do a 1040x form   La tabla de contenido que aparece al comienzo de esta publicación y el índice que aparece al final le servirán de utilidad para encontrar la información que necesite. How to do a 1040x form Qué se incluye en esta publicación. How to do a 1040x form   Esta publicación comienza con las reglas para la presentación de una declaración de impuestos. How to do a 1040x form La publicación explica: Quién tiene que presentar una declaración, Qué formulario se debe utilizar para declarar los impuestos, Cuándo es la fecha de vencimiento de la declaración, Cómo presentar su declaración usando el sistema electrónico e-file y Otra información general. How to do a 1040x form Esta publicación le ayudará a identificar el estado civil para propósitos de la declaración al cual tiene derecho. How to do a 1040x form Del mismo modo, le ayudará a determinar si puede reclamar algún dependiente y si los ingresos que recibe están sujetos a impuestos. How to do a 1040x form La publicación también explica la deducción estándar, las clases de gastos que quizás pueda deducir y varios créditos que quizás pueda tomar para reducir sus impuestos. How to do a 1040x form   A lo largo de la publicación, hay ejemplos que muestran cómo se aplican las leyes tributarias en situaciones típicas. How to do a 1040x form También hay organigramas y tablas en la publicación que presentan información tributaria en una manera fácil de entender. How to do a 1040x form   Muchos de los temas que se tratan en esta publicación son explicados en mayor detalle en otras publicaciones del IRS. How to do a 1040x form Se hace referencia a dichas publicaciones y se indica si están disponibles en español o en inglés. How to do a 1040x form Iconos. How to do a 1040x form   En la publicación se utilizan pequeños símbolos gráficos, o sea iconos, para llamar su atención a información especial. How to do a 1040x form Vea la Tabla 1 , más adelante, para una explicación de cada icono usado en esta publicación. How to do a 1040x form Qué no se incluye en esta publicación. How to do a 1040x form   Algunos materiales que le podrían ser útiles no se incluyen en esta publicación pero pueden encontrarse en el folleto de instrucciones del formulario de impuestos. How to do a 1040x form Esto incluye listas que identifican lo siguiente: Dónde declarar ciertas partidas que aparecen en documentos informativos y Temas tributarios grabados (temas TeleTax). How to do a 1040x form   Si opera su propio negocio o si tiene otros ingresos del trabajo por cuenta propia, tales como del cuidado de niños o la venta de artesanía, vea las siguientes publicaciones para más información: Publicación 334, Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) (Guía tributaria para pequeños negocios (para personas que usen el Anexo C o C-EZ)), en inglés. How to do a 1040x form Publicación 535, Business Expenses (Gastos de negocios), en inglés. How to do a 1040x form Publicación 587, Business Use of Your Home (Including Use by Daycare Providers) (Uso comercial de su vivienda (incluyendo el uso por proveedores del cuidado de niños)), en inglés. How to do a 1040x form Ayuda del IRS. How to do a 1040x form   Existen muchas maneras en que puede obtener ayuda del IRS. How to do a 1040x form Éstas se explican bajo el tema titulado Cómo Obtener Ayuda con los Impuestos , al final de esta publicación. How to do a 1040x form Comentarios y sugerencias. How to do a 1040x form   Agradeceremos sus comentarios acerca de esta publicación, así como sus sugerencias para ediciones futuras. How to do a 1040x form   Puede enviar sus comentarios a la dirección siguiente:  Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. How to do a 1040x form NW, IR-6526 Washington, DC 20224   Contestamos muchas cartas por teléfono. How to do a 1040x form Por lo tanto, sería útil que incluyera en la correspondencia su número de teléfono, con el código de área, en donde nos podamos comunicar con usted durante el día. How to do a 1040x form   Usted nos puede enviar comentarios desde la página web www. How to do a 1040x form irs. How to do a 1040x form gov/formspubs, en inglés, seleccionando Comment on Tax Forms and Publications (Enviar comentarios sobre los formularios y publicaciones de impuestos), bajo la sección More Information (Información adicional). How to do a 1040x form   Aunque no le podemos contestar individualmente, agradecemos sus comentarios y sugerencias y los tendremos en cuenta para ediciones futuras de nuestros productos tributarios. How to do a 1040x form Para pedir formularios y publicaciones. How to do a 1040x form   Visite www. How to do a 1040x form irs. How to do a 1040x form gov/formspubs para descargar formularios y publicaciones, llame al 1-800-829-3676 para pedir formularios y publicaciones o escriba a la dirección indicada a continuación y recibirá una respuesta dentro de 10 días después de que nosotros recibamos su solicitud. How to do a 1040x form  Internal Revenue Service 1201 N. How to do a 1040x form Mitsubishi Motorway Bloomington, IL 61705-6613 Preguntas sobre los impuestos. How to do a 1040x form   Si tiene una pregunta sobre los impuestos, verifique la información disponible en IRS. How to do a 1040x form gov/espanol o llame al 1-800-829-1040. How to do a 1040x form No podemos contestar preguntas sobre impuestos enviadas a ninguna de las dos direcciones indicadas anteriormente. How to do a 1040x form Misión del IRS. How to do a 1040x form   Proveerles a los contribuyentes de los Estados Unidos de América un servicio de la más alta calidad al ayudarles a entender y cumplir con sus responsabilidades tributarias y, a la vez, hacer cumplir las leyes tributarias de manera íntegra y justa para todos. How to do a 1040x form Tabla 1. How to do a 1040x form Leyenda de los Iconos Icono Explicación Partidas que podrían causarle problemas en particular o una alerta sobre legislaciones pendientes que podrían entrar en vigor después de que se imprima esta publicación. How to do a 1040x form Un sitio en Internet o una dirección de correo electrónico. How to do a 1040x form Una dirección que podría necesitar. How to do a 1040x form Documentos que debería mantener en su documentación personal. How to do a 1040x form Cálculos que necesite realizar o una hoja de trabajo que pueda tener que completar y conservar para sus archivos. How to do a 1040x form Un número de teléfono importante. 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Page Last Reviewed or Updated: 04-Mar-2014

The How To Do A 1040x Form

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