The two commercial rated pilots were conducting a night cross-country flight with the purpose of building flight time. The pilots assessed fuel while on the return leg of their planned route and decided that there was enough fuel to conduct a practice instrument approach at another airport. After completing the practice approach, about 4 gallons of fuel was indicated on the fuel gauge and the pilots flew toward their destination. Subsequently, about 8 nautical miles from the destination, the engine lost all power. The right seat pilot conducted a forced landing to a field during which the airplane sustained substantial damage to the fuselage. Post-accident inspection of the fuel system showed no fuel visible in the tank and about 1/2 teaspoon of fuel was drained from the sump. Post-accident examination of the airplane revealed no evidence of any preaccident mechanical malfunctions or failures that would have precluded normal operation. According to the right seat pilot, there was a squawk on the airplane stating that the fuel gauge indicated about 2.5 to 3 gallons high. She stated that the squawk was not seen before the accident flight. According to the flight school, upon dispatching, pilots are automatically presented with open squawks to review through the company dispatching software.