In 2016 I invested a large amount of money in a company with my self directed IRA funds. They made monthly interest only payments on the invested money to my IRA until the end of 2022. They stopped paying the beginning of 2023 and filled for bankrupt the end of 2023. There are no assets to recover so I have lost all the money invested. How can I deduct the lost money on my taxes now and/or in the future? I use Turbo Tax Home and Business.
