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Theft Loss

cpahdr
Level 3

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 Comment 1
sjrcpa
Level 15

See if CCA  202511015 is helpful.

 


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