Can anyone help to identify whether I am able to deductible the money, when I purchase my rental property, I received the wire instruction from fake title company and I lost the money $X. Of course, I do not know who is the thief. Later I paid the money to the right account again. Qustions: (1) $X is Ponzi scheme? (2) $X loss is part of the business property loss. (rental is part of the business property). (3) Does this X belong to cost of the purchased rental property?
Thanks,
