topic I purchased bitconnect back in 2017 but can no longer sell it as the site is down and can no longer be traded anymore on any site. Can I still write this off as a loss? in Deductions & credits

I purchased bitconnect back in 2017 but can no longer sell it as the site is down and can no longer be traded anymore on any site. Can I still write this off as a loss?

micd22 — Sat, 01 Jun 2019 20:17:39 GMT

Purchased a crypto currency and can no longer sell it off, wondering if I can still write it off as a capital loss

you need to determine if you were a victim a scam which i...

Anonymous — Sat, 01 Jun 2019 20:17:41 GMT

you need to determine if you were a victim a scam which i strongly suspect. in such case you have a casualty loss which is no longer deductible in 2018 if you could establish that in 2017 you knew the website was gone and you could sell the crypto due to a scam you could file an amended 2017 return. It still would be a casualty loss, form 4684. casualty losses go on schedule A - itemized deductions.

The website stayed up even after the scam which occurred...

micd22 — Sat, 01 Jun 2019 20:17:42 GMT

The website stayed up even after the scam which occurred in late January 2018 and was still up and running a few months ago when I last checked to see if I could find any potential sites that could sell the coin but had no luck and now it appears to be down. Because of this can I still consider this as a deductible for 2018?

it's a casualty loss in 2018 and casualty losses of this...

Anonymous — Sat, 01 Jun 2019 20:17:45 GMT

it's a casualty loss in 2018 and casualty losses of this type for that year are not deductible.