ProphetMax, Senen Pousa - any info?

I just love it. I reported the lost to the IRS via my tax return. If Pousa is'nt in trouble now, he will be when the USA Government now has a direct linkage to Pousa and the scam....IRS hates competition for my money.....
 
Pugslie2000 said:
Where are all the weasals?
Click to expand...
Here, for you:

Sky_D881.jpg
 
The Americans have recovered about 1.5M but after fees only about 1.2M and they are saying that is about it! That is a long way from the estimated $65M stolen. So much for "crime doesn't pay".
 
Pugslie2000

I wasn't sure what to do with the taxes, since it really isn't a stock loss, it was a scam where our money was stolen. Did you have a CPA do your taxes.

Thanks
 
runningwild said:
Pugslie2000

I wasn't sure what to do with the taxes, since it really isn't a stock loss, it was a scam where our money was stolen. Did you have a CPA do your taxes.

Thanks
Click to expand...

I told my accountant it's up to him to decide the best way to approach this. Either way the money must be returned to the government if I get any type of payout from the class action suit. I recently talk to one of the class action lawyers and some money might be release in June/July, If I remember correctly, they are waiting for the Aussies and the Neterlands to signed off on the class action to simplfy and unfreeze all the monies for disbursment of the cash at one time that is available, if not because of criminal cases pending, the pricks being charged might mess things up till 2016. In the mean time only the monies here in America will be doled out. Don't quote me on any of this because I'm not the lawyer working this case and this was said to me in a private conversation to put my mind at ease and is subject to change.

As to your orignal question and this is just my present understandment and not a professional opinion, You can file a casualty and Lost, you can get a lump sum of your lost that may or may not roll over to next year. If you get any money back from the class action you must reimbursed the goverment whatever you get back the following year. You can also declare this situation as a stock lost since no trial has found the criminals guilty of fraud yet. In this case, you can get back $3,000 a year for whatever amount you are down by year after year until you break even. I personally want a lump sum and in July if the entire payout minus the fees comes to fruitation then I would buy Gold, hoping it will run up till next April, sell the gold to pay the government back and pocket the difference.


Good Luck
 
[Thanks Pugslie2000

Somewhere I read the receivers mentioned threating this as a Ponzi Scheme which the IRS has a special interest in quickly [less than 5 yrs?] closing up and getting a fair ROI as I recall. I'd find the letter if any body cares & wants to distinguish this as a scam/ponzi or stock loss but in the end I guess that's why accountants are well paid.
 
Pugslie2000 said:
I told my accountant it's up to him to decide the best way to approach this. Either way the money must be returned to the government if I get any type of payout from the class action suit. I recently talk to one of the class action lawyers and some money might be release in June/July, If I remember correctly, they are waiting for the Aussies and the Neterlands to signed off on the class action to simplfy and unfreeze all the monies for disbursment of the cash at one time that is available, if not because of criminal cases pending, the pricks being charged might mess things up till 2016. In the mean time only the monies here in America will be doled out. Don't quote me on any of this because I'm not the lawyer working this case and this was said to me in a private conversation to put my mind at ease and is subject to change.

As to your orignal question and this is just my present understandment and not a professional opinion, You can file a casualty and Lost, you can get a lump sum of your lost that may or may not roll over to next year. If you get any money back from the class action you must reimbursed the goverment whatever you get back the following year. You can also declare this situation as a stock lost since no trial has found the criminals guilty of fraud yet. In this case, you can get back $3,000 a year for whatever amount you are down by year after year until you break even. I personally want a lump sum and in July if the entire payout minus the fees comes to fruitation then I would buy Gold, hoping it will run up till next April, sell the gold to pay the government back and pocket the difference.


Good Luck
Click to expand...

June or July would be great, of course I know how these things can get delayed so I'm not counting on that. I was using turbo tax and it was only giving me $200 more for the $3000 loss this year. Since IB is out of business it would seem this could draw an audit. Don't know if it's worth the trouble but I will try to get some professional advice before I file. Interesting plan with the gold. It's been up and down the last year and a half, pretty much sideways but that could change quick.

Thanks for your response
Good luck
 
My understanding from 2 different accountants is that the Safe Harbor provision of the U.S. IRS Code allows you to take 75% or 95% of the loss against ANY income for 2012 taxes. You can not carry over to future years any claimed loss if it exceeds your income. If that is the case, it would be better to take the 75% so that less recovered money (if any) would be taxable.
 
runningwild said:
Pugslie2000

I wasn't sure what to do with the taxes, since it really isn't a stock loss, it was a scam where our money was stolen. Did you have a CPA do your taxes.

Thanks
Click to expand...

Just receive word from my accountant. He decided to treat this situation as a fraud lost and all my other rollovers is still eligible to wait beyond this year so I'll be getting back 70% of the money that was scammed by the Pousa gang. If I was Pousa, I would be shaking in my boots about now because America does employ drones....
 
Pugslie2000 said:
Just receive word from my accountant. He decided to treat this situation as a fraud lost and all my other rollovers is still eligible to wait beyond this year so I'll be getting back 70% of the money that was scammed by the Pousa gang. If I was Pousa, I would be shaking in my boots about now because America does employ drones....
Click to expand...
Laura's dad couldn't care less about the drones. He is America, not you.

curley-obama-480x264.jpg
 
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