I was a victim of cryptocurrency scam. Can I deduct the loss for my 2023 return ?

[Mike9241 · Accepted solution]

if the loss is due to a PONZI scheme it's deductible using form 4864. if it is not a PONZI scheme the loss is not deductible. 

if it is a PONZI scheme, then you probably should read the instructions starting on page 7 to see if this is something you want to tackle yourself.

 https://www.irs.gov/pub/irs-pdf/i4684.pdf