Somebody brought this up on another board and I thought i might be worth posting here as well. Victims in the US might be able take an income tax deduction for theft/fraud losses, if they qualify to itemize their deductions. In order to take the deduction, there needs to be documentation. This is another reason why the scam should be reported to the local police and it is important to keep copies of any money transfer receipts, and emails/chat logs that discuss the exchange of money.
Interesting,
I have not heard of it but it certainly would change the odd thing or 2 in regards to scams.
More people would report it and when the government begin to see how much it is costing them in lost revenue they may be more enclined to try and fix the problem
I guess if it is a "business venture", you have gone into it to make an income so therefore any losses are are in the course of earning the incoming, I dont know a thing abouut US tax laws but I do know the odd little bit about Australian tax, I believe that here you must actually make some income before being able to claim the deduction, in the case of scams you never get a cent.
I would be interested to find out more about this