Reporting Gains
and Losses(p71)

You will have to file one or more of the following forms to report your gains or losses from involuntary conversions.

Use this form to report your gains and losses from casualties and thefts.

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.

Use this form to report gain from an involuntary conversion (other than from casualty or theft) of personal-use property.

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.

Use this form to carry over the following gains.

• 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.

Also use this form to figure the overall gain or loss from transactions reported on Form 8949.

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 32, if you use the cash method of accounting and have not otherwise deducted these losses.