I was the victim of a crypto fraud by Ross Cameron (YouTuber) with a loss of $65,000. I have all documentation. Can I deduct for this unfortunate event?

tylerica — Sun, 08 Feb 2026 18:26:26 GMT

Re: I was the victim of a crypto fraud by Ross Cameron (YouTuber) with a loss of $65,000. I have ...

JamesG1 — Mon, 09 Feb 2026 13:28:45 GMT

Does your experience qualify as a theft? IRS Tax Topic 515 defines a theft as:

A theft is the taking and removal of money or property with the intent to deprive the owner of it. The taking must be illegal under the law of the state where it occurred and must have been done with criminal intent. The amount of your theft loss is generally the adjusted basis of your property because the fair market value of your property immediately after the theft is considered to be zero......... Individual taxpayers may also be able to deduct theft losses incurred in a trade or business or a transaction entered into for profit.

IRS Tax Topic 515 further explains how to report the theft as:

Report casualty and theft losses

For losses involving business-use property, refer to Publication 584-B, Business Casualty, Disaster, and Theft Loss Workbook.

In TurboTax Online Premium, enter 'theft' in the search microscope in the upper right hand corner of the screen. Then enter 'Jump to theft'.

Re: I was the victim of a crypto fraud by Ross Cameron (YouTuber) with a loss of $65,000. I have ...

tylerica — Thu, 12 Feb 2026 00:35:49 GMT

Thank you, James! I appreciate your help and knowledge.

topic I was the victim of a crypto fraud by Ross Cameron (YouTuber) with a loss of $65,000. I have all documentation. Can I deduct for this unfortunate event? in Get your taxes done using TurboTax

I was the victim of a crypto fraud by Ross Cameron (YouTuber) with a loss of $65,000. I have all documentation. Can I deduct for this unfortunate event?

Re: I was the victim of a crypto fraud by Ross Cameron (YouTuber) with a loss of $65,000. I have ...

Re: I was the victim of a crypto fraud by Ross Cameron (YouTuber) with a loss of $65,000. I have ...