close
    1. Home
      2. ›
    2. Business & Finance
      3. ›
    3. Taxes
      4. ›
    4. Other - Taxes
      5. ›
    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?

    Why no answer?

    Answer this
    +1  Views: 550 Answers: 1 Posted: 13 years ago
    Comment this question

      1 Answer

      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.

      13 years ago. Rating: 3
      Comment this answer



        Did this answer your question? If not, then ask a new question.

        Top contributors in Other - Taxes category

         
        country bumpkin
        Answers: 6 / Questions: 0
        Karma: 270
         
        Colleen
        Answers: 21 / Questions: 0
        Karma: 255
         
        ROMOS
        Answers: 7 / Questions: 0
        Karma: 255
         
        Flip
        Answers: 4 / Questions: 0
        Karma: 120
        > Top contributors chart
        488232
        questions
        724842
        answers
        820075
        users