Publication 547 - Introductory Material
This is archived information that pertains only to the 2006 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.
Limits on personal casualty or theft losses caused by Hurricanes Katrina, Rita, or Wilma. The following losses to personal use property are not subject to the $100 rule or 10% rule. For more information, see Deduction Limits
later.
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Losses that arose in the Hurricane Katrina disaster area after August 24, 2005, and that were caused by Hurricane Katrina.
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Losses that arose in the Hurricane Rita disaster area after September 22, 2005, and that were caused by Hurricane Rita.
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Losses that arose in the Hurricane Wilma disaster area after October 22, 2005, and that were caused by Hurricane Wilma.
Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of
missing children
selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children
home by looking at the
photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
This publication explains the tax treatment of casualties, thefts, and losses on deposits. A casualty occurs when your property
is damaged as a
result of a disaster such as a storm, fire, car accident, or similar event. A theft occurs when someone steals your property.
A loss on deposits
occurs when your financial institution becomes insolvent or bankrupt.
This publication discusses the following topics.
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Definitions of a casualty, theft, and loss on deposits.
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How to figure the amount of your gain or loss.
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How to treat insurance and other reimbursements you receive.
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The deduction limits.
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When and how to report a casualty or theft.
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The special rules for disaster area losses.
Forms to file.
When you have a casualty or theft, you have to file Form 4684. You will also have to file one or more of the following
forms.
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Schedule A (Form 1040).
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Schedule D (Form 1040).
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Form 4797.
For details on which form to use, see
How To Report Gains and Losses, later.
Condemnations.
For information on condemnations of property, see
Involuntary Conversions in chapter 1 of Publication 544.
Workbooks for casualties and thefts.
Publication 584 is available to help you make a list of your stolen or damaged personal-use property and figure your
loss. It includes schedules to
help you figure the loss on your home and its contents, and your motor vehicles.
Publication 584-B is available to help you make a list of your stolen or damaged business or income-producing property
and figure your loss.
Comments and suggestions.
We welcome your comments about this publication and your suggestions for future editions.
You can write to us at the following address:
Internal Revenue Service
Individual Forms and Publications Branch
SE:W:CAR:MP:T:I
1111 Constitution Ave. NW, IR-6406
Washington, DC 20224
We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number,
including the area code, in
your correspondence.
You can email us at
*taxforms@irs.gov. (The asterisk must be included in the
address.) Please put “
Publications Comment” on the subject line. Although we cannot respond individually to each email, we do appreciate your
feedback and will consider your comments as we revise our tax products.
Ordering forms and publications.
Visit
www.irs.gov/formspubs to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response
within 10 business days after your request is received.
National Distribution Center
P.O. Box 8903
Bloomington, IL 61702-8903
Tax questions.
If you have a tax question, visit
www.irs.gov or call 1-800-829-1040. We cannot answer tax questions sent to
either of the above addresses.
Useful Items - You may want to see:
Publication
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523
Selling Your Home
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525
Taxable and Nontaxable Income
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550
Investment Income and Expenses
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551
Basis of Assets
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584
Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property)
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584B
Business Casualty, Disaster, and
Theft Loss Workbook
Form (and Instructions)
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Schedule A (Form 1040)
Itemized Deductions
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Schedule D (Form 1040)
Capital Gains and Losses
-
4684
Casualties and Thefts
-
4797
Sales of Business Property
See How To Get Tax Help near the end of this publication for information about getting publications and forms.
