Ask Experts Questions for FREE Help !
Ask
    monojase's Avatar
    monojase Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 20, 2009, 12:10 PM
    Tax Law regarding PONZI schemes
    Hi,
    I am a victim of a couple of PONZI schemes. I was recently advised that I can claim "theft" on my tax return and deduct the amount lost. Since I've already filed, I'd have to do this as an amendment, but before doing so, I wanted some advice. Is this legal? What documentation do I have to provide? Any downside or words of caution?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    Apr 20, 2009, 12:15 PM

    You have been the victim of a COUPLE of Ponzi schemes?

    I'm posting here because I want to see the other answers. Here is the explanation of the law which I found: http://www.usatoday.com/money/perfi/...doff-irs_N.htm. It seems somewhat complicated.

    I'll leave the final answer to the experts who actually know.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Color schemes for 1906 houses [ 3 Answers ]

Can anyone point me to a resource for paint schemes for a house built in 1906? I'm doing a remodel of an old house and when it comes time to paint it, I thought it'd be nice to paint it in an original paint scheme instead of a current paint scheme if I can find something appropriate. Any help...

Biggest Ponzi Scheme Ever [ 11 Answers ]

Hi folks. So, does anyone know what the biggest ponzi scheme in history is? In order to answer that, we need to understand what a ponzi scheme is. Essentially, a ponzi scheme is where someone gets people to invest in something by promissing them a certain rate of return. Once the...

View more questions Search