I have a Ponzi scheme filing under the Safe Harbor Treatment using Revenue Procedure 2009-20.
I am filling out Section C Part I of form 4684 with line 51 amount is going to Line 28 of Section B Part I.
Even through TT doesn't deal with Ponzi Schemes, where does this amount on line 28 of form 4684 gets reported? Does it go to Schedule 1 Item 8z (Other Income)?
In doing some research and speaking to the FBI, the IRS does allow Safe Harbor Treatment for Ponzi Scheme victims which doesn't limit losses to $3000
