Hello,
I looked at some previous posts with a similar question. I have been scammed in a crypto pig butchering scam in 2024 and lost a hefty amount of $85k. This has since been reported to FBI, IC3, and other major sites.
I came across this site where it seems possible to claim these losses as theft. Wanted to get inputs from fellow tax pros if this is possible and be able to claim the full or 95% of the amount as a deduction. Are there any audit alerts I should be aware of? Is this a legit website?
https://www.taxnotes.com/featured-news/tax-pros-welcome-clarity-scam-theft-loss/2025/03/14/7rnbr
I tried in Turbotax as theft. It looks like personal property theft is not deductible but business or investment losses are deductible. Can crypto scam be considered an investment theft?
