Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- S-Corp - Theft Loss - Form 4864
S-Corp - Theft Loss - Form 4864
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
NGR
Level 2
01-30-2024
10:22 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hi,
I have a client, who files an 1120S. I was told in 2014 there was a theft of $100,000. The client is asking if form 4864 can be filed even though this occurred 9 years ago. No losses were claimed in 2014-2022. Is there a statute of limitations on this? High audit risk?
Thanks,
Nick
2 Comments 2
qbteachmt
Level 15
01-31-2024
12:26 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Someone stole cash? Insolvent bank? Ponzi scheme? Why the delay; was there a potential recovery that has proven impossible?
*******************************
"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
NGR
Level 2
01-31-2024
12:29 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hi
thanks for the reply. It was theft of cash and violation of a non compete. This occurred before I accepted the client. Client stated he forgot he could file. Legal action was not pursued beyond a police report which I have for my records.
Thanks
