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Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 2 months ago

If I "invested" $13,000 in a business in 2017 & 2018, but I ended up getting scammed, how can I write the loss off on my 2020 income taxes?

5 Answers

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  • Anonymous
    2 months ago

    You need to talk to a lawyer as to whether this qualifies as a theft loss.  Exactly when the theft occurs is the issue.  If after 2017, not deductible at all due to Trump changes.

  • 2 months ago

    You CAN'T.   

  • Anonymous
    2 months ago

    What do you mean you "invested" $13,000?    Did you make someone a loan?  Did you buy ownership shares?   Or did you start your own business?   Where does the investment stand now?  

    You've given us basically zero information. 

     

  • 2 months ago

    Stupidity is not tax deductible.

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  • 2 months ago

    You don't write it off in 2020.  

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