Drake Tax - 1041: Casualty or Theft of Personal Use Property
Article #: 13643
Last Updated: October 18, 2024
How to get a casualty loss for personal use property to go to Section A of the Form 4684
Page 1 (Section A - Personal Use Property) of Form 4684, Casualties and Thefts, is not produced by Drake Tax in a fiduciary return. It is available from IRS.Gov.
You can complete it by hand and enter the results in the software, but you may not be able to successfully e-file the return if a D2 screen entry is made and the specified forms are not present in the return (Business rules SD-1041-001 and SD-1041-002).
If page 1 of the manually completed Form 4684 displays a value:
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on line 18 (casualty and theft deduction), the value may be entered on screen 3, line 15a (other deductions).
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on line 15 (a capital gain remaining after form subtractions), the value may be entered on screen D2:
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line 4 (short-term).
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or line 11 (long-term).
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Paper-filing. You can paper-file the return and submit the manually completed page 1 of Form 4684 with the rest of the return as generated in Drake Tax.
e-Filing.
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If you make an entry on screen D2, line 4 or line 11, Business rule SD-1041-001 or SD-1041-002 will cause a reject unless the following conditions are met:
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For line 4, one of these forms is present: 6252, 6784 or 8824
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For line 11, one of these forms is present: 2439, 6252, 6781 or 8824
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If you e-file the return, be sure to attach page1 of Form 4684 as a PDF, as the IRS will be expecting it to be attached.
When data is entered on either line and if none of the required forms are present for that line, then the return must be paper-filed.