Can I report my money loss by fake cashier check for tax deduction?

Question

I became a fraud victim of a well-known Internet scam?

I lost $5000 by taking a fake cashier check.

How can I report my loss for tax deduction?

For the details of the fraud, http://seattle.craigslist.org/about/scams.html

Answer 1

This would be a casualty/theft loss. It can be deducted on schedule A (itemized deductions) on your tax return. You get to deduct the amount that the loss exceeds 10% of your adjusted gross income. If your adjusted gross income is $50,000 or more you would not get a deduction. If your AGI is less than $50,000 you would get some deduction.

Answer 2

you've defined the NIgerian strengthen funds scam to a T. they offer a faux reason as to why the examine is only too a lot and why they want the money decrease back. Your guy stated it replaced into because he had to pay the movers and oops, one way or the different he in elementary words had one examine. (lately scammers have switched from the shipper excuse to creating faux deposits on apartment houses, claiming the vacation to the u . s . a . replaced into cancelled and soliciting for a "refund.") The examine stated Kentucky because it replaced into both a stolen examine or a faux examine made to look as actual as accessible to lesson the possibilities the commercial agency might want to are attentive to it replaced into rubber in the previous they provide help to deposit it. a million. You owe the commercial agency decrease back the finished volume decrease back. 2. you may contact the FBI, TIGTA, etc, although the offs are ninety 9.9999% against you that they could get any of it decrease back for you. 3. nicely, you may want to itemize the robbery loss, it does no longer make a distinction on your taxes. (once you have not any earnings, you won't be able to apply the deduction. once you've the earnings, your widely used deduction is more desirable than the robbery volume.)

Answer 3

Thefts, fire, floods, and other casualty losses are deductible on schedual A. Just follow the rules.

(If any of this amount was recovered you can only report the amount missing. You will need proof of the loss in event of an audit.)

Answer 4

Unfortunately there is no deduction for that. Fraud does not qualify as a casualty loss. Sorry.

Answer 5

no