Taxes and loans

[chieftopcop]

If these Pip's accounts were listed as "loans" when we put our funds into them are they then deductable as unrepaid loans?
If so, has anyone done so and if so how did you list them.

Any thoughts on this?

[Offshore-Wealth.com]

If these Pip's accounts were listed as "loans" when we put our funds into them are they then deductable as unrepaid loans?
If so, has anyone done so and if so how did you list them.

Any thoughts on this?

Interesting,

I would call them gambling losses. (g) But I guess a loss is a loss no matter what you call it. Given the fact these were unsecured loans, misc. losses would work for most.

Good luck to all, Mike

[chieftopcop]

The last time I had to deal with a lawyer was to settle an estate. The deceased left a will covering all assets.
Only took the lawyer three years to get it figured out....duh....and then he had the balls to send a bill for $15,000!!! That's right FIFTEEN THOUSAND DOLLARS.
I'm trying to get an itemized billing from him now.
To bad there isn't a way to contest this kind of abuse. Even if there was you would be talking to another lawyer trying to convince him/her to go against his "brother" lawyer.
Pretty much a no win situation. There's a reason all judges have to be lawyers, sure isn't to make sure the average joe gets a fair deal.