You will have to file one or more of the following forms to report your gains or losses from involuntary conversions.taxmap/pubs/p225-048.htm#en_us_publink1000218711
Use this form to report your gains and losses from casualties and thefts.taxmap/pubs/p225-048.htm#en_us_publink1000218712
Use this form to report involuntary conversions (other than from casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit. Also use this form if you have a gain from a casualty or theft on trade, business or income-producing property held for more than 1 year and you have to recapture some or all of your gain as ordinary income.taxmap/pubs/p225-048.htm#en_us_publink1000218713
Use this form to deduct your losses from casualties and thefts of personal-use property and income-producing property, that you reported on Form 4684. But see Schedule L (Form 1040A or 1040)
for an exception.
Use this form to report gain from an involuntary conversion (other than from casualty or theft) of personal-use property. Also, carry over the following gains to Schedule D.
- Net gain shown on Form 4797 from an involuntary conversion of business property held for more than 1 year.
- Net gain shown on Form 4684 from the casualty or theft of personal-use property.
Use this form to deduct your losses from casualty or theft of livestock or produce bought for sale under Other expenses in Part II, line 34, if you use the cash method of accounting and have not otherwise deducted these losses. taxmap/pubs/p225-048.htm#en_us_publink1000218716
Use this form instead of Schedule A (Form 1040) if you are deducting a net disaster loss as part of your standard deduction.