Staying home due to inclement weather, I took a stab at my 2009 taxes. Reading
IRS publication 529 on tax deductions, I see:
What’s New:
Losses from Ponzi-type investments. Special rules apply
to theft losses from Ponzi-type investment arrangements.
See Form 4684 and Instructions for more
information.
Now, clearly the social security qualifies a Ponzi type investment, and I am losing all the money I am putting in it. Does that mean I could deduct it as a loss to reduce my taxes? 