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Deductions & credits
This is not about a victim of a Ponzi scheme. The IRS in January of this year made a change to the current IRS rule. They stated that if you were a victim of a scam and your intent had been to make profits, then the loss would be deductible. The current version of 4684 does not allow this as it is implemented in the Turbotax 2024. My question is if an update will be available this year or will it be updated for 2025?
May 23, 2025
7:33 PM