If I purchase the Tax Expert help to prepare my return, will they be able to include a huge theft loss on Schedule A?

[hh2015tt]

It's a 6-figure loss realized in 2021, when federal criminal charges were filed, so I will need it spread over many years.  Are the Tax Experts proficient in this type of more complicated filing?

[GeorgeDenseff]

Under the 2017 Tax Cuts and Jobs Act. there is no longer a deduction for a theft.

[xmasbaby0]

After the tax laws changed for 2018 and beyond, casualty and theft loss were eliminated as federal deductions.  

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

[hh2015tt]

Thank you for such a speedy reply!  To clarify: this is Ponzi-type capital theft, and the DoJ filed criminal charges.  I thought there was a tax remedy for such.  That is not the case?

[hh2015tt]

Thank you for such a speedy reply!  To clarify: this is Ponzi-type capital theft, and the DoJ filed criminal charges in Oct '21.  I thought there was a tax remedy or off-set for such.  That is not the case?

[xmasbaby0]

There are some exceptions for Ponzi schemes.   

https://ttlc.intuit.com/community/choosing-a-product/help/what-is-turbotax-live/00/27191

https://ttlc.intuit.com/community/choosing-a-product/help/what-is-full-service-by-turbotax-live/00/2...