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I invested 390K by lendung it to Rome Finance and receiving

a company intetest bearing note...
I invested 390K by lendung it to Rome Finance and receiving a company intetest bearing note. The company went bankrupt but committed property conversion and fiduciary crimes. Do I have to sue the company for fraud to tax an ordinary income loss or can I just claim one? So far the only court involved is the bankruptcy court.
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1/4/2011
MShore Law
MShore Law, Attorney
Category: Business Law
Satisfied Customers: 25,285
Experience: Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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Thank you for the post, do you mean do you have to sue the company for fraud to avail yourself to tax relief by claiming the $390k as an investment loss, to offset your ordinary income tax on capital gains?
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Customer reply replied 7 years ago
Yes, do we need to sue to show the fraud as the Trustee has refused to do so in order to make the claim? Is the suit necessary for our tax claim and/or will it bolster our tax claim?
Thank you, XXXXX XXXXX bolster your tax claim but is not absolutely necessary.
MShore Law
MShore Law, Attorney
Category: Business Law
Satisfied Customers: 25,285
Experience: Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
Verified
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MShore Law
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Category: Business Law
Satisfied Customers: 25,285
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Experience: Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

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