Thread: Can US residents write initial loan off of taxes?

When can, if ever, we write off our initial loan to PIPS as a loss on our federal income taxes? What has to be proven to show that we lost our money, what constitutes such a complete loss???? Not getting any money back? Anyone have any ideas? It doesn't seem like much, but out of a $6K loan one could get back well over $1K. I will hang in there as long as I can, but at some point I want to at least try to recoup some of my losses. And please refrain from the old "if you want out you can sign over your account to me" line. Thanks for any advice/opinions.

If you are bit patience you will get back not just your initial loan, but
1000 times more.

I already withdraw and spend way over I initially put in. PIPS is not going anywhere. It will be here for long long time.