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    5. I was scammed out of a lot of money. Is this money deductable on my Income Taxes?
    I was scammed out of a lot of money. Is this money deductable on my Income Taxes?

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    +1  Views: 615 Answers: 1 Posted: 14 years ago
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      I am inclined to say "yes".  A couple of things need to happen:  a police report filed and some proof that such act indeed had occurred.  Check with your accountant regarding this matter.  To me, a scam is similar to other losses such as thefts and may be eligible for deductions.

      14 years ago. Rating: 3
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