I lost $96,000 in a crypto fraud scheme. is this something I can claim on my federal or iowa state taxes

[Anonymous_]

@Mike9241 

[Mike9241]

it it was a Ponzi-type scheme then yes you can report  the loss on form 4684 section for Ponzi losses. it will be part of your itemized deductions. you have to make certain selections

neither Tutbotax nor myself will be able to determine if it was a Ponzi scheme that qualifies for relief

instructions for Ponzi type losses start on page 7

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

you are asking from Turbotax live for which you paid extra

https://ttlc.intuit.com/community/expert-review/help/how-do-i-connect-with-a-tax-expert-in-turbotax-...

 5 AM to 5 PM, PT, Monday–Friday

if they can't help you, then yo best bet is to use a tax pro