I was a victim of a debt consolidation program that is currently going through the courts. I lost $5000. Is this deductible

[vanparyskelly]

Strategic financial solutions

[Mike9241]

no

[SusanY1]

This type of loss is generally considered a loss from theft.  If this was a personal debt, it is not deductible on your federal tax return.  If this loss is related to a business, it may be deductible as a loss on your business return.  

Casualty and theft losses are only deductible when caused by a federally declared disaster.