Form 4684 MS 2024-2025

Form 4684 MS: What You Should Know

No deductions on state line. 11. No personal casualty, theft or loss allowance. 12. Payroll deduction allowance of up to 500. 13. Amount of deduction may be reduced by up to 80% of the state tax. 14. Add state tax credit of up to 80%. 15. Add Mississippi Sales Expenses deduction or deduction of up to 10 for each 10 of Mississippi sales taxes (or 2 1/2% of Mississippi base sales tax) paid on all personal casualty and theft losses of 500 or more. 16. Add Mississippi Property Losses Deduction or deduction of up to 10 for each 10 of Mississippi property taxes, which amount may be reduced by up to 80% of the state tax. A Mississippi casualty loss is the difference between your adjusted gross income and your state tax deduction (if any) for your casualty loss. The amount of your casualty loss, if any (is any) is treated as a non-refundable credit against your state sales tax. Therefore, if you have a deductible casualty loss, the state may reduce the amount of your tax on your Mississippi sales taxes. A deductible casualty loss has no impact on your federal tax liability. However, if you have a  tax liability for Mississippi sales taxes and a deductible casualty loss, you may be able to get a rebate of your state sales tax through the Federal Tax Refund Program. If you have an adjusted gross income (AGI) of 4,000 from a family member who lost their job, and you made 2,000 from selling your own business, you may not use your casualty loss in the calculation of the federal adjusted gross income. Also, if you have excess state tax and the deductible tax over the state tax on your casualty loss may be more than what you would owe on your income tax. For an example of a casualty loss, look at Chapter 4. Casualties and Thefts — IRS Sep 9, 2025 — Information about Form 4684, Casualties and Thefts, including recent updates, related forms and instructions on how to file. Form 4684 — Casualties and Thefts — State Government Agency Use Form 4684 to report gain or loss from casualty, theft, or damage caused by a tornado, hurricane, or similar natural disaster. Attach your Form 4684 to your tax return. 80 -108 — Mississippi — | MS.

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