2018 I filed a Form 4684 Section "C" for a boat load of Ponzi losses. What form do I fill out to file carryover? I will have about 4 years of carry over based on my current income and actual losses. The for 4684 does not seem to support that feature. According to the Ponzi Relief Law one can carry forward not limit until the ponzi losses are all written off. Please be detailed. The schedule "A" instructions do not help much. Thank You in advance
you have to use for 1045 schedule A for 2018 to determine if you had a net operating loss for 2018. the ponzi loss is a business loss. if you end up with an NOL that gets carried forward to 2019. if not you have used up the ponzi loss by it reducing taxable business income.
Thank You HACKITOFF. Can you be a little more specific please? On Schedule A, which block do I put my total ponzi loss? I can amend my 2018 tax filing no problem. I have losses that should carry forward for 4-6 years and would hate to loss that as I already got a major hose job dealing with the ponzi. There are many of us victims in the same boat and will share your info. Thank you again