#406 Scams, Loses, Theft and More - Must Know Tax Information
Main Street Business
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Is This a Capital Loss?
In a Ponzi scheme situation, you're going to go through form 4684 that feeds into the Schedule A. And then this is right above your taxable income. This is a really good write off. If you end up with the bad debt loss that Matt was talking about on this yield issue, that's a short term capital loss. Is that what you've seen? I think it goes into the carry forward of losses.
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