I invested $84,000 in a company called GWG. They convert insurance policies into cash for the policy holders. It’s currently in bankruptcy 11 meaning that the debtors and creditors are trying to work through the bankruptcy court and try to pay the investors. But recently the assets of the company are slowly dwindling to the point the not much will be left to pay the investors. Can I claim the total amount as a loss or do I have to wait out until the court decides what to do? And if I can report the total loss where do I report it on my turbo tax (delux) software. Respond to [email address removed] vietvet 007.
