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Get your taxes done using TurboTax
There is no federal tax deduction for losses due to a scam, unless it was a Ponzi scheme. Based on what you said, the scam does not seem to be a Ponzi scheme, so you do not enter the loss anywhere on your federal tax return.
A few states might allow a deduction for a theft loss.
‎February 11, 2023
7:42 PM