Yes - You can claim the loss as a capital loss. You will only be able to take $3,000 of loss each year. The balance will be carried forward, to be taken on future returns.
To enter your
cryptocurrency transactions, please follow these steps:
- Click Federal > Wages
& Income
- In the Investment Income
section, click the Start/Update box next to Cryptocurrency.
- On the screen, Did you sell or
trade cryptocurrency in 2018, click the blue Yes box at the
bottom of the screen.
- On the next screen, Let's get
your cryptocurrency info, click the I'll
type it in myself box.
- Enter the information on the next screen. For the sales price, enter zero (0).
- Continue through the screens,
entering the requested information.
Cryptocurrency is a complex subject and there has been a lot of discussion/debate surrounding it, expecially cryptocurrency theft. TurboTax MichaelDC provides an insight to cryptocurrency theft in his answer below:
https://ttlc.intuit.com/replies/6492916
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