Form 4684 doesn't currently work in Turbotax specifically for ponzi scheme theft. In the casualties and theft section under deductions, I enter my event details, date, and under property type, I selected "income producing property". The next page asks "Passive activity", and I selected "Yes, this is a Ponzi scheme loss." The next page I enter the details of the loss. The next page asks for additional property details, and I checked "I owned this item for investment purposes (e.g., stock or artwork)." Once I completed my taxes, under the smart check, It keeps given errors for the property description. If I enter a property description, the there is an error that says that I need to remove the description. If I leave it blank, I get an error stating that I need to fill the property description.
