US citizens claiming PIPS as Loss on taxes?
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)?
Thanks,
pp
Could you please check it out?
Quote:
Originally Posted by
TLC
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).
pp