Saturday, January 22, 2011

2010 Income Tax Deductions for Internet Losses

If you were defrauded on the Internet and you are filing a US Tax return for 2010 here is some quick help.

It is tax deductible if you suffered a loss due to the theft of your money or items in an online scam.
You should have supporting documentation such as a copy of the police report you filed at the time of your loss. Make sure you keep copies of all receipts and evidence.

For more information please visit:
(click Theft)

You will need to fill out an IRS Form 4684  and Form 1040 and Schedule A,,id=118506,00.html

  • Form 1040 and Instructions - Standard Income Tax Return

  • Schedule A and Instructions - Itemized Deductions

  • Here are the instructions for the Form 4684 you will need to file:

    The form is located here:

    If you have any question please consult a qualified tax preparer.


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