Today TaxMama hears from Tom in the Tax Quips Forum, who has gotten bad advice. “I started investing in an online program that is registered in the British Virgin Islands. They say that this program is exempt from the US Securities Act of 1933, the US Securities Exchange Act of 1934 and the US Investment Company […]
Tag Archives: Ponzi scheme
Today TaxMama hears from Louis in South Carolina who says, “I lost $30,000 in an ‘’Investment Pool’’ that turned out to be a Ponzi scheme (see link in Resource Box below). The perpetrator was convicted at the end of 2007. How do I claim this loss on my taxes for 2007?”