Tripp Knightly wrote:

- quote -

Change in FMV is only PART of the computation. What was
your actual basis (how much did you pay for it)? You may
only deduct the lesser of these two. As you state that your
basis is de minimus, so will be your deduction.

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Tripp Knightly <trippknightly[at]hotmail.com> wrote:

- quote -

Your loss starts with the Lower of i) basis or ii) FMV

Since basis is de minimus it will not exceed the 10% agi
threshold.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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Tripp Knightly wrote:

- quote -

Casualty loss is limited to basis -- unless, of course,
you were to include the cost of advertising your NEW
domain and letting people know your old domain was
hijacked.

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"Tripp Knightly" <trippknightly[at]hotmail.com> wrote:

- quote -

Loss is limited to your tax basis.

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I have (make that had) an internet domain name stolen
through fraudulent means, and have filed official local
police reports as well as w/ FBI.

I want to reflect this theft loss on my tax return, subject
to the 10% AGI exclusion. The domain is arguably worth some
ten thousands of dollars based on appraisals, and the
"basis" in the property is de minimus.

Before blindly filing with the deduction, what should I be
concerned about?

Many thanks for any advice.

- Tripp

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