Part II

Read the statements and declarations in this part carefully. Enter the required information in the spaces provided. You are agreeing to these statements and declarations when you sign your tax return. The

information you enter in this part will be used to verify the fraudulent investment arrangement.

Section D—Election To Deduct Federally Declared Disaster Loss in Preceding Tax Year Read the discussion under Disaster Losses , earlier. Then fill out Section D if you want to elect to deduct a disaster loss on your tax return for the preceding year. You may also fill out Section D if you want to revoke a previous election to deduct a disaster loss in the tax year immediately preceding the disaster year.

Part I—Election Statement

Fill out Part I if you want to make an election to deduct a loss attributable to a federally declared disaster and that occurred in a federally declared disaster area in the tax year immediately preceding the tax year the loss was sustained. By making this election, you agree not to deduct the loss for the disaster year.

Attach Section D to your original return or amended return for the tax year immediately preceding the tax year the loss was sustained to claim the disaster loss deduction.

You must make this election on or before the date that is 6 months after the regular due date for filing your original return (without extensions) for the disaster year.

Part II—Revocation of Prior Election

Fill out Part II if you want to revoke a prior election to deduct a loss attributable to a federally declared disaster and that occurred in a federally declared disaster area in the tax year immediately preceding the tax year the loss was sustained.

Attach Section D to your amended return for the tax year immediately preceding the tax year the loss was sustained to revoke the previous disaster loss deduction. You must file this amended return for the preceding year on or before the date you file the original return or amended return for the disaster year on which you claim the disaster loss.

You can revoke the prior election on or before the date that is 90 days after the due date for making the election.

Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us the information. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax.

You aren’t required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103.

Instructions for Form 4684 (2025) 13

The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden for individual taxpayers filing this form is approved under OMB control number 1545-0074 and is included in the estimates shown in the instructions for their individual income tax return. The estimated burden for all other taxpayers who file this form is shown below.

Recordkeeping . . . . . . . . . . . . . 2 hr., 37 min.

Learning about the law or the form . . . . . . . . . . . . . . . . . . . . . . 24 min.

Preparing the form . . . . . . . . . . 1 hr., 58 min.

Copying, assembling, and sending the form to the IRS . . . 1 hr., 3 min.

If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. See the instructions for the tax return with which this form is filed.

14 Instructions for Form 4684 (2025)

Index

A Amended return 1, 6

C Corrosive drywall 6

D Deductible losses :

Casualty losses 3 Theft losses 3 When to deduct 4 Deposit losses 6 Disaster area losses 4

East Palestine disaster relief

payments 6 Home damaged or destroyed 5 Home made unsafe 4 How to deduct loss in preceding

Wildfire relief payments 6 Disaster loss 2

F Federal casualty loss 2 Federally declared disaster :

Disaster loss 2 Federal casualty loss 2 Qualified disaster loss 2 Financial scams 10

G Gain on reimbursement 3

L Losses :

Casualty losses 3 Theft losses 3 When to deduct 4

N Nondeductible losses 3

P Personal-use property 1, 3 Ponzi-type investment

schemes 10 Postponed tax deadlines 1

Q Qualified disaster loss 2 Qualified opportunity funds 2

R Reimbursement 7 Related expenses 3

year 4

15