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    Pension Loss

    Taxpayer rolled over his pension plan to another pension plan that went belly up. He loss
    $80,000 , what is the best way to handle his tax situation. Thanks

    #2
    Nothing

    Probably nothing. If he had no basis in the plan then his loss is not deductible.
    I would put a favorite quote in here, but it would get me banned from the board.

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      #3
      Originally posted by Unregistered
      Taxpayer rolled over his pension plan to another pension plan that went belly up. He loss
      $80,000 , what is the best way to handle his tax situation. Thanks
      OH BOY!!! Too bad
      Everybody should pay his income tax with a smile. I tried it, but they wanted cash

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