Invested in a Real Estate Private Equity firm but SEC declared it as a Ponzi Scheme. Form 4684 allows the loss as an Itemized Deduction with Passive Loss (have no Passive Gain). Heard from others that this can be taken as on offset to all income (Investments, SS Benefits, etc) - How can we do this for 2022 Return?
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If you are working on a 2022 tax return using TurboTax, you must be using the desktop version. To report your Ponzi scheme loss:
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