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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
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I filed an extension for 2015. I had 2 significant losses.

Customer Question

I filed an extension for 2015. I had 2 significant losses. One was a swindel and I was advised by a tax professional I will be working with that I should make a police report. How do I do that now after all this time? I lost 23K on that and when I contacted the U.S. rep he told me I would never see my money again and filing a police report wouldn't change anything.
I need a tax planner to help me itemize too.
Submitted: 11 months ago.
Category: Tax
Expert:  emc011075 replied 11 months ago.

Hi. My name is ***** ***** I will be happy to help you.

You can claim casualty loss deduction but as the agent told you, you will not get the money back through the refund. You may be able to recover about 10, maybe 15%. Most tax professional can handle itemized deduction. What type of losses you have? Certain ponzi scheme losses get preferential tax treatment, but again, do not expected you will get 23K refund.