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Old 02-10-2011, 11:39 AM
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Money Market Account Loss


I have a money market account with a small investment firm that filed bankruptcy in July 2010. The bankruptcy proceedings are still ongoing and I have not found out how much money I will recover. My question is, do I need to report anything on this year's tax return or will I be fine waiting to report on next year's return when I will know how much I lost? And where would I report such a loss, as it isn't a capital loss, correct? Thanks for any help!

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