Page 351 - Individual Forms & Instructions Guide

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that were limited in an earlier year. Car- itemizing your deductions, you can • Gambling losses (gambling losses
ryover amounts from contributions made claim an increased standard deduction include, but aren't limited to, the cost of
in 2020 or 2021 are subject to a 60% using Schedule A by doing the follow- non-winning bingo, lottery, and raffle
limitation if you deduct those amounts ing. tickets), but only to the extent of gam-
in 2022. After applying those limits, en- 1. List the amount from Form 4684, bling winnings reported on Schedule 1
ter the amount of your carryover that line 15, on the dotted line next to line 16 (Form 1040), line 8b.
you are allowed to deduct this year. See as "Net Qualified Disaster Loss," and at- • Casualty and theft losses of in-
Pub. 526 for details. tach Form 4684. come-producing property from Form
4684, lines 32 and 38b, or Form 4797,
2. List your standard deduction line 18a.
Casualty and Theft amount on the dotted line next to line 16 • Federal estate tax on income in re-
as "Standard Deduction Claimed With
Losses Qualified Disaster Loss." spect of a decedent.
• A deduction for amortizable bond
3. Combine the two amounts on premium (for example, a deduction al-
Line 15 line 16 and enter on Form 1040 or lowed for a bond premium carryforward
1040-SR, line 12.
or a deduction for amortizable bond pre-
Complete and attach Form 4684 to fig- Do not enter an amount on any other mium on bonds acquired before October
ure the amount of your loss. Only enter 23, 1986).
the amount from Form 4684, line 18, on line of Schedule A. For more informa- • An ordinary loss attributable to a
tion on how to determine your increased
line 15. contingent payment debt instrument or
standard deduction, see Pub. 976.
Don't enter a net qualified dis- Net Qualified Disaster Loss an inflation-indexed debt instrument (for
! aster loss from Form 4684, example, a Treasury Inflation-Protected
CAUTION line 15, on line 15. Instead, en- Reporting Security).
ter that amount, if any, on line 16. See If you have a net qualified disaster loss • Deduction for repayment of
Line 16, later, for information about re- on Form 4684, line 15, and you are amounts under a claim of right if over
porting a net qualified disaster loss. itemizing your deductions, list the $3,000. See Pub. 525 for details.
• Certain unrecovered investment in
You can only deduct personal casual- amount from Form 4684, line 15, on the a pension.
ty and theft losses attributable to a feder- dotted line next to line 16 as "Net Quali- • Impairment-related work expenses
ally declared disaster to the extent that: fied Disaster Loss" and include with of a disabled person.
your other miscellaneous deductions on
1. The amount of each separate line 16. Also be sure to attach Form
casualty or theft loss is more than $100, 4684.
and Total Itemized
2. The total amount of all losses Don't include your net qualified Deductions
during the year (reduced by the $100 ! disaster loss on line 15.
limit discussed in (1)) is more than 10% CAUTION
of the amount on Form 1040 or Other Itemized Deductions Line 18
1040-SR, line 11.
List the type and amount of each ex- If you elect to itemize for state tax or
See the Instructions for Form 4684 pense from the following list next to other purposes even though your itemiz-
and Pub. 547 for more information. line 16 and enter the total of these ex- ed deductions are less than your stand-
penses on line 16. If you are filing a pa- ard deduction, check the box on line 18.
per return and you can't fit all your ex-
Other Itemized penses on the dotted lines next to

Deductions line 16, attach a statement instead show-
ing the type and amount of each ex-
pense.
Line 16 Only the expenses listed next
!
Increased Standard CAUTION can be deducted on line 16. For
more information about each of
Deduction Reporting these expenses, see Pub. 529.

If you have a net qualified disaster loss
on Form 4684, line 15, and you aren’t

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