IRS Pub 547 Korean – IRS Forms, Instructions, Pubs 2026 – If you are a Korean-speaking taxpayer in the U.S. and need clear guidance on claiming tax deductions for losses from fires, storms, floods, thefts, or federally declared disasters, IRS Publication 547 Korean (간행물 547) is the official resource you need. The latest 2025 edition (revised February 2026) explains how to calculate and report casualty, disaster, and theft losses for your 2025 tax return.
This article provides an overview of the publication, key rules, recent updates, and the direct download link.
What Is IRS Pub 547 Korean?
Publication 547 (Korean Version) is the official IRS guide titled 재해, 재난, 및 도난 (Casualties, Disasters, and Thefts). It covers:
- Definitions of deductible casualties, thefts, and bank deposit losses
- How to figure your loss amount
- Deduction limits and exceptions
- Special rules for federally declared disaster areas
- Reporting requirements (mainly Form 4684)
It applies to tax year 2025 and includes updates from recent laws, such as extended disaster relief deadlines and qualified disaster loss provisions.
The English version is available at IRS.gov/Pub547, but the Korean edition makes the rules fully accessible in your preferred language.
Key Topics Covered in Pub 547 Korean (2025)
1. Definitions of Casualties, Thefts, and Losses
- Casualty: Sudden, unexpected, or unusual event damaging or destroying property (e.g., hurricane, fire, car accident, earthquake).
- Theft: Taking property with intent to deprive the owner (burglary, larceny, fraud in profit-seeking transactions).
- Deposit loss: Loss when a bank or financial institution becomes insolvent.
- Non-deductible examples: gradual deterioration, pet damage, intentional acts.
After 2017, personal-use property losses are generally deductible only if tied to a federally declared disaster.
2. How to Calculate Your Loss?
Loss = Adjusted basis – Fair market value (FMV) decrease – Insurance/reimbursements.
The publication explains safe-harbor methods (Rev. Proc. 2018-08) for estimating FMV reduction, including repair costs, contractor bids, or appraisals (especially useful for homes).
Use Publication 584 (personal-use property workbook) or 584-B (business) to organize your records.
3. Deduction Limits & Exceptions
- $100 rule → Subtract $100 from each casualty/theft event.
- 10% AGI rule → Only the amount above 10% of your adjusted gross income is deductible (does not apply to qualified disaster losses).
- Qualified disaster losses (specific events like Hurricanes Harvey/Irma/Maria, certain 2020–2025 wildfires, etc.) → $500 limit instead of $100, no 10% AGI floor, and you may claim without itemizing.
Business or income-producing property losses have no $100 or 10% limits.
4. Special Rules for Federally Declared Disaster Areas
- Elect to claim the loss in the prior tax year (via Form 1040-X) for faster refund.
- Increased standard deduction for net qualified disaster losses.
- Gain deferral if you replace damaged property with similar property within 2–4 years.
- Many disaster-related grants and payments are tax-free (e.g., certain wildfire assistance, East Palestine train derailment grants).
Recent updates in the 2025 edition include:
- Extended deadlines under the Disaster Related Extension of Deadlines Act
- Automatic 120-day filing extensions for some 2025 disasters
- Continued qualified disaster relief for events through September 2025
5. How and When to Report?
- Use Form 4684 (Casualties and Thefts) as the main form.
- Personal-use losses → Schedule A (itemized deductions).
- Business losses → Form 4797.
- Gains → Schedule D or Form 4797.
- Timing table in the publication shows when to claim losses vs. gains.
Download IRS Pub 547 Korean PDF (2025)
Direct official download (free):
https://www.irs.gov/pub/irs-pdf/p547ko.pdf
HTML version for online reading:
https://www.irs.gov/publications/p547ko
Always use the most current version from IRS.gov. Check IRS.gov/Pub547 for any late-breaking updates after publication.
Additional Helpful IRS Resources
- Form 4684 instructions
- Publication 584 / 584-B (workbooks)
- Disaster Tax Relief page: IRS.gov/DisasterTaxRelief
- Free tax help: VITA/TCE programs or IRS.gov/Korean
If you experienced a casualty, theft, or disaster in 2025 (or a qualified prior-year event), review Publication 547 Korean carefully before filing. Proper documentation (photos, appraisals, insurance statements) is essential for your claim.
Bookmark this page and the PDF for quick reference during tax season. Questions? Visit IRS.gov or call the IRS Korean-language line for assistance.
Last updated: February 2026 – based on official IRS Publication 547 (Korean) 2025 edition.