In her recent decision, Judge Margaret Sweeney agrees that they are the victims of theft and entitled to a theft loss deduction of over $2.5 million. Theft Loss Not Capital LossProbably most of the people who invested in MyTurn.com ended up with a capital loss rather than a theft loss. Here is an example of someone who tried to claim a theft loss on their WorldCom losses. Now it has been determined that there was a theft loss, but it is only deductible in a year after 2004. So the theft loss should be allowed in one of the many years between 2004 and 2018.

Source: Forbes November 02, 2018 22:18 UTC