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Originally Posted by delawarejones
I have endorsed all my pay checks, except Jan and feb with the "deposited for credit on account or exchanged for non-negotiable/non-redeemable federal reserve notes of face value."
How do you fill in the 1040 to get the credit? I tried treating them as "worthless security" but that only gets a $700 deduction between fed and state tax forms.
How do I fill out the 1040 to take advantage of this benefit?
Thank you in advance,
Delawarejones
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I do not know what the answer is but I wanted to give you an idea. The stamp is a non-endorsement of the private credit. Just know that so you don't slip up one time when you're at the bank and call it an endorsement. You are NOT agreeing with the Federal Reserve that you understand their money system. Hopefully David can help you on here.
S.U.S.