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7HERECAN)GETCOPIESOFMY
lNANCIALRECORDSANDOTHER
IMPORTANTDOCUMENTSTHATWERELOST
ORDESTROYEDDUETOACA SUAL TY
Eortunately. you can get copies oI many
important records. Eor example. contact your
bank Ior bank statements. the county clerk Ior real
estate records. and your tax preparer or the IRS Ior
Iederal tax returns.
To get a Iree copy or transcript oI your prior
years` Eorms 1040. 1040A. or 1040EZ. send a
com plet ed Eorm 4506. Request for Copv or 1ran-
script of 1ax Form. to the IRS address where you
fled your tax return.
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7HERECAN)GETMOREIN FORMA TIONON
CASUALTYLOSS ES
Start with Publication 2194. Disaster Losses Kit
for Individuals - Help From the IRS. or Pub li ca tion
2194B. Di sas ter Losses Kit for Businesses - Help
From the IRS. They have in Ior ma tion about IRS
tax services. Iorms and pub li ca tions to help in-
di vid u als and business own ers with their loss. In
ad di tion to the Iol low ing Iorms and pub li ca tions.
there are oth er ma te ri als in these kits that may help
you de ter mine your loss.
Form 1040X, Amended U.S. Individual Income
1ax Return
Form 1120X, Amended U.S. Cor po ra tion
Income 1ax Return
Form 4684, Casualties and 1hefts
Pub 536, Net Operating Losses (NOLs) for
Individuals. Estates. and 1rusts
Pub 547, Casualties. Disasters. and 1hefts
Pub 584, Casualtv. Disaster. and 1heft Loss
Workbook (Personal-Use Propertv)
Pub 584B, Business Casualtv. Disaster. and
1heft Loss Workbook
You may download and print IRS Iorms and
publications Irom the Internet at WWWIRSGOV
or call the IRS at 1-800-829-3676 (1-800-TAX-
EORM) to order Iree Iorms and pub li ca tions.
Erom a Iax ma chine. dial (703) 368-9694 and
Iollow the voice prompts to get tax Iorms Iaxed to
you. This is not a toll-Iree call.
II you have ac cess to tele type writ er/telecom-
munications de vice Ior the deaI (TTY/TDD)
equip ment. you can call 1-800-829-4059 to ask
tax ques tions or to or der Iorms and pub li ca tions.
Department of the Tr TT easury
InternaI Revenue Service
Publication 1600 (Rev. 10-2004)
Catalog Number 13670E IRS
Often vour tax questions can be answered bv reading
tax publications and related forms. When vou need more
information. call the IRS at 1-800-829-1040 for as sis tance.
A number of tax laws allow the IRS to grant relief
to taxpavers who are victims of a Presidentiallv-
declared disaster. 1his relief in cludes.
N postponing tax deadlines to provide vou with
extra time to hle and pav before vou will be
assessed anv penaltv. additional amount. or
addition to the tax.
N abating vour interest for periods for which vou
received an extension of time to hle tax returns
and pav taxes because vou were located in a
Presidentiallv-declared disaster area.
In case of a Presidentiallv-declared disaster.
the IRS will issue a notice or news release that
describes the relief available for a specihc disaster.
In addition to the relief provided bv IRS. certain tax
laws applv directlv to victims of a Presidentiallv-
declared disaster bv.
N allowing vou to use an appraisal that vou used
to get a federal loan or federal loan guarantee.
due to a Presidentiallv-declared disaster. to
establish the amount of a disaster.
N allowing a farmer who sells livestock and poultrv
due to a drought. nood. or other weather-related
condition. to choose to include income from the
sale in the tax vear following the tax vear of
the sale. Sales made before the area became
eligible for federal assistance qualifv if the
weather-related condition that caused the sale
also caused the area to be designated as eligible
for federal assistance.
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7HATISACASUALTYLOSSFORTAX
PURPOSES
A casualty is the damage. destruction. or loss oI
property resulting Irom an iden ti f able event that
is sudden. unexpected. or unusual. De duct ible
casualty losses can result Irom earthquakes. fres.
foods. hurricanes. vandalism or similar events.
Your unreimbursed loss Irom a casualty may
be deductible on your tax return Ior the year the
casualty occurred. II the loss happened in an area
the President designated a disaster area. you may
not have to wait until the end oI the year to fle
a tax return and claim the loss. You may be able
to fle an amended return Ior the year beIore the
disaster. right now. and get a reIund oI taxes you
have al ready paid.
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7HEREDO)STARTWHEN)HAVE
ACASUALTYLOSS
You need to know the amount oI your loss. This
can be diIIicult to determine. but it is worth
the eIIort. In general. you make a list oI your
damaged. lost. or destroyed property. Eor each
item. you need to know its adiusted basis beIore
the casualty and the decrease in its value due to
the casualty. Normally. your loss is the smaller oI
these amounts. Eor business property completely
de stroyed. use its adiusted basis as your loss.
In some cases. you may be able to use the cost
oI cleaning up or making repairs. or an ap prais al
used in obtaining a Iederal loan or Iederal loan
guar an tee. to establish the decrease in the Iair
mar ket value oI your property.
IRS Publication 547. Casualties. Disasters. and
TheIts. gives you more inIormation regarding your
loss. and Eorm 4684. Casualties and TheIts. gives
you step-by-step in struc tions on how to fg ure your
deductible loss.
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(OWWILLINSURANCEAFFECTMYLOSS
When fguring your casualty loss. reduce the loss
by any in sur ance reimbursement you receive or
expect to receive. II you had insurance cover-
age at the time oI the ca su al ty. but did not fle a
claim. you can deduct only the amount oI the loss
that the in sur ance would not have covered (Ior
example. the insurance deductible).
II the insurance company pays you more than
your adiusted basis. you will have a gain Irom the
ca su al ty. Usually. that gain is taxable Ior the year
that you re ceive it. How ev er. you may be able to
post pone reporting the gain iI you buy prop er ty
sim i lar or related in ser vice or use to the de stroyed
property within a spec i fed period. See Pub li ca tion
547 Ior de tails.
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-YCASUALTYLOSSISGREATERTHANMY
INSURANCECOVERAGE)STHEREANYTAX
RELIEFAVAILABLETOME
You may be able to get a tax reIund by fling an
amended return right now. It works like this:
II your loss was in an area the President
declared a disaster area. you may choose to
deduct the loss on an amended return Ior the
tax year immediately preceding the tax year in
which the disaster occurred. II you choose to fle
an amend ed return. you may qual i Iy Ior a re Iund
now with out hav ing to wait until you fle your
return Ior this year.
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HISBROCHUREHIGHLIGHTS
FEDERALTAXTREATMENTOF
DISATERAREALOSSESFORINDIVIDUALS
ANDBUSINESSOWNERS