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

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1 Best answer

Level 15

Oct 29, 2023 11:56:51 PM

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.

Level 15

Oct 29, 2023 11:56:51 PM

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.