Ask questions via Twitter. Tweet any question to @AskFiLife and we will respond with an answer. More.

FiLife - In partnership with The Wall Street Journal

Your Financial LifelineTM

In partnership with The Wall Street Journal
 
 

Disclaimer

FiLife is a great place to get your finances in shape, and the expert advice in the community can help you address specific or general problems. But very often you’ll also need one-on-one advice from a professional, especially since rules and laws maybe specific to your state or country. Remember that investments and other financial transactions come with risk, and you should consult an independent, qualified professional before making financial commitments.

Stop Showing this Message

Question

Joan Nordby
Newcomer

Joan Nordby asked 7 months ago in Tax Preparation

Tax Prep: Must I separately list items on a Form 4684 for a fire

WE have about 700 personal items lost in the fire, must I list each book, dish, pan separately?

Was this question interesting?

Yes

(0)

No

(0)

Permalink | Abuse

FiLife Recommends

Answer this Question
  • Share:
  •  

1 Answer

Sort by:
Kelly Phillips Erb
FiLife Contributor
Reply

I would use reasonable judgment. No, you mustn't list every book - but you shouldn't write "Personal Items $5000" either. Group like things together, such as "Books $250", etc. Remember that you must be able to prove ownership (and cost) of items to make the claim, so you don't want to be so broad as to make that complicated - nor so specific that it's impossible to get through the form. Use sensible categories, breaking out any individual piece that has a significant value.

Is this helpful?

Yes

(0)

No

(0)

Permalink | Abuse

Answer this Question

Generic User Image

Ask a Question

140 characters

Tips

  • Be specific and clear.
  • Be courteous and thoughtful.
  • Share some details about your situation (age, relationship, etc)

Login or Join

or login with

Ask a Question

140 characters

Expert Partners

Stacker Poll of the Day

What age should you start your child's allowance?

Avg 8.5
 
Avg 8.5
 
248 responses