Form 4684 - Casualty and Theft Loss on Property Used 100% for Business
1
If you have a casualty and/or theft loss on property used 100% for business, you will report the loss on Form 4684, Casualties and Thefts, in Section B for business property. To report casualty/theft loss on property used 100% for business on Form 4684 in the TaxAct program, follow the steps below. Once this information has been entered, the TaxAct program will transfer your loss to Form 4797, then Form 1040, Schedule 1.
Online
Dashboard
From within your TaxAct return, click Resources.
On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Under My Return, click Federal Search.
Click the Business Income drop-down, then click Casualty or theft loss from business property.
Complete the rest of the interview process.
Classic
From within your TaxAct return, click Federal.
On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Business Income drop-down, then click Casualty or theft loss from business property.
Complete the rest of the interview process.
Desktop
From within your TaxAct return, click Federal.
Click the Business Income drop-down, then click Casualty or theft loss from business property.
Complete the rest of the interview process.
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