Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Products
  • Workflow Tools
  • Learn & Support
  • Sign In
  • Products
  • Workflow Tools
  • Contact Us
  • Sign In
  • Learn & Support
    • Created with Sketch. See what's trending for the upcoming tax season. View ProSeries Hot Topics.
    Created with Sketch. See what's trending for the upcoming tax season. View ProSeries Hot Topics.
    cancel
    Turn on suggestions
    Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
    Showing results for 
    Search instead for 
    Did you mean: 

    Gift Card Scam

    cclark
    Level 3
    ‎02-09-2024 01:39 PM

    I have a client who lost $9,500 on the a gift card scam. She thought she was talking to Apple support and called the phone number and she ended up buying gift cards to pay. 

    My question is can the client take a loss on taxes for this? Maybe a casualty loss?? Has anyone ever had this situation?

    Thanks!

    0 Cheers
    Reply
    2 Comments 2
    sjrcpa
    Level 15
    ‎02-09-2024 02:08 PM

    Personal casualty/theft losses are not deductible at this time in the evolution of the tax code.

    The more I know, the more I don't know.
    Reply
    cclark
    Level 3
    ‎02-09-2024 02:12 PM

    Thank You! I did not think that it could be deductible!

    Reply






    Intuit Lacerte Tax
    Intuit ProConnect Tax
    Intuit ProSeries Tax
    Additional Accounting Solutions
    Tax Pro Center
    Tax Practice Resources
    Call sales: 844-877-9422
    Sitemap

    ©1997-2024 Intuit, Inc. All rights reserved.

    Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

    By accessing and using this page you agree to the Terms and Conditions.

    About Cookies | Manage Cookies
    Legal Privacy Security