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New Member
posted May 14, 2023 8:26:59 AM

I incurred a cash loss due to fraud. Can I claim any of the amount with my filing?

I incurred a cash loss due to fraud. Can I claim any of the cash loss with my filing?

0 4 3497
4 Replies
Moderator
May 16, 2023 11:37:34 AM

Unfortunately not. 

Returning Member
May 17, 2023 12:14:33 PM

I wouldn’t be so sure about that. Certainly you wouldn’t need to have the fraud documented and the question then would really be may I deduct losses that occurred as a result of theft, or shrinkage from my business.

so sorry you had that unfortunate incident, I hope this helps you

Returning Member
May 17, 2023 12:15:34 PM

Excuse: I meant to say that you would certainly needs to have the fraud documented

Moderator
May 17, 2023 1:56:39 PM

As fraud is a legal matter, the only thing that you can claim on  your income tax return is if you have any legal fees. 

 

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