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I was wondering if anyone could answer a question regarding claiming PIPS 'investment' as a loss somehow on US taxes. Probably can't claim it as a capital loss, since PIPS is not stocks or bonds. Does anyone know anything about the possibility of claiming it as a loss due to theft of income producing property (Form 4684B)?
I reported a loss with pips. Not sure how my tax man listed it, but I know it dealt with a loss where the head guy is in jail related to the scam.
TLC,
Thanks for your input. Could you please check it out and let me know for sure how your tax man listed the loss for you? I would like to be able to pay a tax professional to do my return for me, but I'm not financially positioned (go figure - too much loss of hard-earned money).
I don't see nor could imagine enough albeit in the USA or anywhere incl. Malaysia itself where PI Inc was "somehow or somewhat" registered, that claims can be recognised and thereby, related forms as you have, be submitted and to suit your loss with the IRS.
It is just like buying a lollipop and a gush of wind blew it off your stick and it landed up on a bird's nest...wasted to nature's creatures!
No claim ever nor possible!!!...It is as good as GONE and "down the drain, into the gutters" with the faith given to the Marsdens here.
BIG & bad a loss too for me... but two years passed and it now felt like a nightmare that was a dream and fortunately, one can wake up from it and move on into the future with better perspectives and a broad smile since...
YB. - cheers to all with recovery and enjoy the movies, it reflects a lot but it keeps you in your seat entertained!!!
I reported a loss with pips. Not sure how my tax man listed it, but I know it dealt with a loss where the head guy is in jail related to the scam.
Bear in mind he's only only in jail cos he can't afford bail, and that he hasn't actually been found guilty by a court of law yet. Should he get off (I don't suppose he will, but you never know!) then you might have to re-visit your tax man.
Any new topic, unrelated to the PIPs & Bryan Marsden trial will have to be created & posted in the correct Forum in ROLClub.
I am closing this thread and all that are related to the Marsdens/PIPS/Hallotto disguise deceit. For returning members wanting to trace or track related posts concerning the current development some call it a stupid saga, a farce and even a silly & endless waste of time, well whatever anyone feels opinionated by their individual viewpoints or argument, the Trial on the Marsdens is NOT over and far from closure hence, a main sticky thread will cater to that attention
Any further new threads open just for the sake of an individual's ignorance to the progress surrounding the Marsdens or the Trial or anything else on PIPS or PicPay and all the parties involved will find their newly created thread deleted. Issues related to the past and further back in the past, will be posted in the above thread, click that and stay there with your submitted posts please. This is a start of some pruning and spring cleaning on the PIPS related Forum.
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US citizens claiming PIPS as Loss on taxes?
cheers to all with recovery and enjoy the movies, it reflects a lot but it keeps you in your seat entertained!!!
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