How to report capital loss from trading scam?

[huiniex]

I was scammed and lost $220K in Nov & Dec of 2020, a combination of bank wire transfers and BTC bitcoin transfers to a scammer who lured me to invest in MetaTrader4 forex trading.  After transferring my $220K over a period of 2 months to what I thought was into my own trading account, but came time when I requested to withdraw from my trading account, I was denied withdrawal with ridiculous excuses.  It was then that I realized I was scammed all my money!  Now I am at a lost as to how I should be filing my taxes so that I won't have to pay for "capital gains" because I technically gained nothing, but instead lost everything!  Please help!

[Mike9241]

you may want to contact a tax pro who can discuss the situation with you and review relevant documents. .  this may or may not be a PONZI-type scheme. A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam that generates returns for earlier investors with money taken from later investors.

if it is there are special procedures that must be followed to take the loss.

if it isn't, then it would be a non-deductible personal casualty loss. 

[Critter-3]

If you have not reported the theft yet you need to do so ... seek local professional guidance in this matter.