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Video instructions and help with filling out and completing When Form 4797 Worksheet

Instructions and Help about When Form 4797 Worksheet

It's kbk double used coffee talk on FM 94 7 and a.m. 1450 and L let's go to Everett Hughes for the insider report good morning Everett and today we are still inside the Schedule A and we're gonna look at another one of the three or four farms that close to the schedule a and you know you've heard if you have a casualty stepped or lost it might be deductible on your tax returns aha have you heard that on just now just now yes but I hear about it a lot my during tax season because everybody's heard about it and they want to know if they can do it well this form it's a form 46 84 and it flows right into line 20 of the schedule a it's the casualty theft we're a worksheet and and there's two different kinds of casualty losses one is business hmm which is pretty much a hundred percent and the other one is reduced by ten percent of your adjusted gross income minus another hundred dollars and here's what you have to do on the form 46 84 you have to start with a description of the casualty or theft you have to put in when the twin the theft or casualty started then you have to tell what kind of property was it was it personal or business employment or income producing property you have to check that you have to check all these other categories was they used in a passive activity on and on and on it goes already people are saying well I don't know now if you've had the loss of the personal residence there's a part of this schedule you have to fill out regarding that and then you have to fill out...

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