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If I lost money due to a phone scam and filed a police report, can I deduct that?

The problem of suing a scammer is if you can get hold of them. Most of them are hidden overseas. These online scammers are very sophisticated and organized. They know how to take advantage of the national sovereignty so that the U.S. law enforcement cannot get them. Burma and Malaysia have many of these hideouts.

If I lost money due to a phone scam and filed a police report, can I deduct that?

Do I get to claim this loss on 2022 return and if so where?

If I lost money due to a phone scam and filed a police report, can I deduct that?

@3grandkids1 Your posted to a very old thread that has many posts from other users.  We do not know any details of your loss since you have not provided any information.   However, casualty and theft losses are not deductible on a federal return.  The tax laws that went into effect for 2018 eliminated those kinds of losses as a federal deduction with only a few exceptions such as being in a disaster area or being the victim of a Ponzi scheme.  Sorry.

 

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

If I lost money due to a phone scam and filed a police report, can I deduct that?

@3grandkids1   And your username looks like a ssn.  This is a public user forum and the whole world can see it and steal it.   

sdages
New Member

If I lost money due to a phone scam and filed a police report, can I deduct that?

Thank you!

thee-hawk
Returning Member

If I lost money due to a phone scam and filed a police report, can I deduct that?

I filed with FBI and Internal revenue!!!  They both have copy of all document's 

If I lost money due to a phone scam and filed a police report, can I deduct that?

I know your question is old but just wanted to say how sorry I am for the loss you took. I lost a substantial amount too (almost a 100k) to never even get a call from thr banks or law enforcement agencies that I submitted my reports too. I however have read that I have to pay federal taxes to agencies that didn't lift a finger for 5 seconds to simply say "we don't have time to help you." I can't believe that one has to pay taxes on money stolen from them. Absolutely gross. 

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