Thank you MinhT1. May I ask why IRS form 8949 may not be used to claim the loss of the funds? I have reviewed IRS publication p550 on the Topic number 453 on a Bad Debt Deduction for Nonbusiness Bad Debts, and the instructions for the use of IRS form 8949 and specifically page 54 on Nonbusiness Bad Debts, and this appears to be the avenue to address the referenced loss.
