If I give $20K, is that a gift or casualty loss

[Pacun]

If I get a call from the "IRS" and they demand that I pay them otherwise they will send me jail and I pay them $20K, where do I report that money?

 

Do I pay taxes because that was a gift to scammers or do I get a casualty loss?

 

[ILLMAS]

http://www.irs.gov/publications/p547/ar02.html

 

sounds like it can fall under theft.

[FreedomTaxed]

Topic 515 - Casualty, Disaster and Theft Losses (Including Federally Declared Disaster Areas)

 

http://www.irs.gov/taxtopics/tc515.html

[Pacun]

But that's limited to 10% of MAGI, correct? It won't benefit since most scammers ask for 2K-5K and that amount is less than 10% of MAGI for most people.

Edited March 24, 2015 by Pacun