i was scammed out of $5000....requested by a scam artist to place $5000 into a crypto atm machine...turned out the money i deposited was withdrawn by the scam artist....i never saw the $5000 again....QUESTION: CAN I CLAIM SUCH A LOSS ON MY 2023 TAX RETURN?
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1 Replies
rjs
Level 15
Oct 5, 2023 7:51:31 AM
Sorry, no, you can't claim the loss. Under the tax law that was passed in 2017, theft losses are not deductible for years 2018 through 2025.
(There is an exception for Ponzi schemes, but the scam that you were involved in was not a Ponzi scheme.)