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Level 3
May 12, 2025
Question

Theft Loss

  • May 12, 2025
  • 1 reply
  • 13 views

Client lost over 500k in an investment scam to an entity in England. Obviously a ponzi shceme, howerve because entity is in England and the FBI was notified they could do nothing because the entity was in England. Thus no criminal investigation or  conviction. Can I rely on rev proc 2009-20 under these circumstances and if not how do I report the theft loss on  form 4684?

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1 reply

sjrcpa
Level 15
May 12, 2025

See if CCA  202511015 is helpful.

 

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