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New Member
posted Feb 26, 2025 6:32:08 AM

After 10 years and jail for the guilty party I have to report loess on my tax form. What form do I need

Pyramid scam

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1 Replies
Expert Alumni
Feb 26, 2025 8:10:54 AM

@DDollar here explains that a taxpayer may be allowed to claim an itemized deduction for theft loss on Schedule A Itemized Deductions.

 

Best answer by @GeorgeM777 here explains that TurboTax does not support IRS form 4684 Casualties and Thefts to report such a theft or loss.

 

IRS website here references revenue rulings that apply to these losses.

 

We recommend that you visit a tax professional to handle your situation.