I have had a lot of bad luck this year and had multiple thefts. My car got broken into (laptop, headphones, keys stolen, broken window) and I had another theft of a bag with a bunch of clothes and some small electronics. Since I am a student with a small income the thefts probably exceed 10% of my AGI. How should I estimate the damages? Can I just give rough round estimates or do I have to calculate the exact depreciation. If so how do I do this?

  • Form 4686 is for extensions not theft. Also, form 4686 is an extension of time to file your tax return. However, it is not an extension of time to pay your tax bill. – Michael Mar 13 '17 at 15:44
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    I edited the title. Here's more information: hrblock.com/get-answers/taxes/adjustments-and-deductions/… – Michael Mar 13 '17 at 15:47
  • I can't open the link it redirects me to hrblock.com/file – Benedikt Bünz Mar 14 '17 at 16:30
  • Not sure why it's doing that for you. I've tried it on 3 different browsers and have had others try it and it works. Perhaps if you Google "HR Block form 4684" it'll return with the same webpage. – Michael Mar 14 '17 at 17:12
  • Ok I can open it (private browsing did the trick). I guess my question is how I do the following: "Figure your adjusted basis in the property before the casualty or theft. Figure the decrease in fair market value (FMV) of the property resulting from the casualty or theft." – Benedikt Bünz Mar 15 '17 at 1:47

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