OWC Pharmaceutical Research Corp (OWCP)

[I-Glow]

From the Form 4684:

"A—Personal Use Property (Use this section to report casualties and thefts of property not used in a trade or
business or for income-producing purposes. For tax years 2018 through 2025, if you are an individual, casualty or theft losses of personal-use property are deductible only if the loss is attributable to a federally declared disaster. You must use a separate Form 4684 (through line 12) for each casualty or theft event involving personal-use property. If reporting a qualified disaster loss, see the instructions for special rules that apply before completing this section.)"

Then we have:

"SECTION C—Theft Loss Deduction for Ponzi-Type Investment Scheme Using the Procedures in Revenue
Procedure 2009-20 (Complete this section in lieu of Appendix A in Revenue Procedure 2009-20. See instructions.)"

The Tax Code is guidelines not rigid rules - you could possibly use Section C losses from a Ponzi type investment scheme.

This should be a special topic on how file to take advantage of the OWCP losses.

IG