How do you report stolen crypto?

hannahsmith_24 · ‎January 4, 2025

Our Coinbase account got hacked and over $20,000 was stolen, and we have not got it back. How do you report stolen crypto on your taxes?

xmasbaby0 · ‎January 4, 2025

Theft and casualty losses are not deductible as of the tax laws that went into effect for 2018 through 2025. Only losses as the result of a Ponzi scheme are deductible, or casualty losses incurred in a federally declared disaster area.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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xmasbaby0 · ‎January 4, 2025

Theft and casualty losses are not deductible as of the tax laws that went into effect for 2018 through 2025. Only losses as the result of a Ponzi scheme are deductible, or casualty losses incurred in a federally declared disaster area.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

DoninGA · ‎January 4, 2025

A Casualty or Theft loss is not reported on a federal tax return unless the loss occurred in a federally declared disaster area.

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How do you report stolen crypto?