I recommend that you do not be lazy and go through the effort of compiling your itemized deductions. Your efforts may be greatly rewarded!

Transfer the calculated loss to Schedule A (Itemized Deductions) if claiming a personal deduction. Attach Form 4684 to Form 1040 and submit it with your tax return. The loss must result from a ...

Instead, you just claim your deduction on Form 1040. For itemized deductions, you'll need to fill out Form 1040 as well as Schedule A. This process entails "adding all applicable deductions and ...