MI Form 4684 2024-2025

MI Form 4684: What You Should Know

In column, I enter the gain that could have been taxed in the state and not reflected as a Michigan gain or loss. For the purpose of the calculation, line 17 is considered a state taxable gain. Enter in column K line 39 (the federal line). Enter line 3 through line 38 with the states that the claim relates to. Enter all amounts in column O on Schedule H and line 38 on Schedule H-40 for that year. Include the following amounts on line 40: The sum of all amounts on line 3 of the return for that year and for each previous year, less the amount shown in column D on the same line of the return. The federal figure as reported on line 1. If you also claim a Michigan casualty or theft deduction, the sum of all amounts on line 3 of the return for each of the two years before the return for the claimed deduction. If you also claim a Michigan casualty or theft deduction, the federal figure as reported on line 1. For Form 4684, Line 17a and lines 12a, 12b and 13a are required to calculate the federal gain or loss. If you are filing a joint return, these amounts are calculated from the federal to the state figures. Line 17a and line 10b are included, as are the applicable adjustments for federal recapture. The Michigan state figure is adjusted for local recapture through line 18. If you are filing a joint return, the Michigan state figure is adjusted for state recapture through line 19. The sum of all amounts on line 3 of the return for that year and during each of the three years before the claim dates. For example, if you filed a joint return, report the following amounts on line 3: A loss from a casualty in the state. This amount is calculated as if the loss were a casualty in the state at the time of the loss. A loss from a theft in the state. Line 8a and line 8b are included. Line 14a includes all amounts on line 3 of return for the two years before the claim date. Line 10a includes line 9 and the amounts from line 9 to line 15 on line 3. If there is an item in column 15 that has not been entered on line 3, enter the amount on line 3 in column E to the same position. If this has been done, don't change the column E to the final position. Note.

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