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Federal input screens

Screen 4684 - Casualty and Theft Losses (990)

General Information

Casualty or theft number
Enter a unique number for each casualty or theft. Each casualty or theft occurrence should have its own unit.

Casualty or Theft Information

Asset number
These numbers transfer from the asset module. They’re not used on the return, but serve as a link to the data in the asset module.
Holding period (Force)
Use these boxes to override the holding period the application calculates based on data you enter in
Date acquired
 and
Date of casualty or theft
 boxes.
Gain reported on Form 4797, part III
Indicate if there is a long-term gain from the casualty or theft of depreciable property reported on Form 4797, Part III. Also, enter
X
 in the
Disposition due to casualty or theft
 box in the Sale screen and enter this information there. If any of the gain be recaptured, the capital gain reports on line 33 of Form 4684 instead of line 34.
Postpone entire gain
If you postpone the entirety of the gain, the system proformas the information for the asset in the 4684PY screen for the following year. If you enter
X
 in the
Property acquired from related party
 box in the Replacement Information section, this application ignores this box.
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