What are the steps to fill out form 4684 for cryptocurrency theft or hacking losses in 2021?

3 answers

• Giorgi ZanqaidzeFeb 21, 2025 · 5 months ago
  Sure! Here's a step-by-step guide on how to fill out form 4684 for cryptocurrency theft or hacking losses in 2021: 1. Start by downloading form 4684 from the IRS website or obtain a physical copy from your local IRS office. 2. Fill out the top section of the form with your personal information, including your name, address, and social security number. 3. In Part I of the form, provide a detailed description of the theft or hacking incident, including the date it occurred, the type of cryptocurrency involved, and the amount of loss you incurred. 4. If you have insurance coverage for your stolen or hacked cryptocurrency, indicate the amount of reimbursement you received in Part II of the form. 5. Calculate your total loss by subtracting any insurance reimbursement from the total amount of loss you reported in Part I. 6. Transfer the total loss amount to line 1 of Part II. 7. If you have any other gains or losses to report, fill out the remaining sections of the form accordingly. 8. Once you have completed the form, double-check all the information for accuracy and make sure you sign and date it. 9. Keep a copy of the completed form for your records and submit the original to the IRS by the specified deadline. Please note that this is a general guide, and it's always recommended to consult with a tax professional or CPA for specific advice based on your individual circumstances.
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• Lanier AustinOct 18, 2023 · 2 years ago
  Filling out form 4684 for cryptocurrency theft or hacking losses in 2021 may seem daunting, but don't worry, I've got your back! Here's a simplified step-by-step guide: 1. Get form 4684 from the IRS website or your local IRS office. 2. Fill in your personal information at the top of the form. 3. In Part I, describe the theft or hacking incident, including the date, type of cryptocurrency, and the amount of loss. 4. If you received any insurance reimbursement, note it in Part II. 5. Calculate your total loss by subtracting any insurance reimbursement from the reported loss in Part I. 6. Transfer the total loss amount to line 1 of Part II. 7. If you have other gains or losses to report, complete the relevant sections. 8. Review the form for accuracy, sign, and date it. 9. Keep a copy for your records and submit the original to the IRS by the deadline. Remember, it's always a good idea to consult a tax professional for personalized advice.
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• Thulasithan GnanenthiramFeb 13, 2025 · 6 months ago
  As an expert at BYDFi, I can guide you through the process of filling out form 4684 for cryptocurrency theft or hacking losses in 2021. Here are the steps: 1. Visit the IRS website or your local IRS office to obtain form 4684. 2. Complete the personal information section at the top of the form. 3. Provide a detailed description of the theft or hacking incident in Part I, including the date, type of cryptocurrency, and the amount of loss. 4. If you received any insurance reimbursement, indicate it in Part II. 5. Calculate your total loss by subtracting any insurance reimbursement from the reported loss in Part I. 6. Transfer the total loss amount to line 1 of Part II. 7. If you have other gains or losses to report, fill out the relevant sections. 8. Review the form for accuracy, sign, and date it. 9. Keep a copy for your records and submit the original to the IRS by the specified deadline. Remember, it's important to consult a tax professional for personalized advice based on your specific situation.
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