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yeknod
Level 5
December 7, 2019
Solved

Money Stolen from Retirement Account

  • December 7, 2019
  • 3 replies
  • 8 views

TP had 39K stolen from his retirement account.  I have it entered on the Worksheet and the numbers transfer to the 4864 and line 12 is $38,900 but line 17 and 18 or not calculating.  

I checked box 3a (Personal) on the Worksheet.  Should I have checked business? When I check business it calculates.  Is an IRA considered an income producing property?

Any Suggestions?

This topic has been closed for replies.
Best answer by Just-Lisa-Now-

Casualty losses were taken away for 2018 unless they were due to a federal declared disaster area.

3 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community ChampionAnswer
Intuit Community Champion
December 7, 2019

Casualty losses were taken away for 2018 unless they were due to a federal declared disaster area.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Ernie
Ernie
Level 7
December 7, 2019

I believe that money stolen from an IRA is not deductible until all IRA's have been closed out.

rbynaker
rbynaker
Level 13
December 7, 2019

Did they issue a 1099-R?

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