Capital Loss due to Online Crypto scam

dbmason29
dbmason29 Member Posts: 1 Newcomer
in General

HI,

I was recently involved in an online Crypto Scam, where I was led to believe by joining this group doing crypto trading, I could make lots of profit. I invested a lot of my own capital, and turned out to be a scam, where they never let me withdrawl any of my capital. I invested over 27K of my own capital which they scammed. Will I be elelible to claim as Capital loss for next years taxes?

thanks,

David

Answers

  • rachels
    rachels FreeTaxUSA Agent Posts: 128 image
    edited September 11

    Hi dbmason29,

    Yes, if you invested in a cryptocurrency scam, you will typically claim the loss as a capital loss. There is another similar question in the FreeTaxUSA Community. Please refer to the answer given here, which includes specific instructions for entering it in your account:

    https://community.freetaxusa.com/discussion/comment/3822#Comment_3822
  • veronica881
    veronica881 Member Posts: 2 Newcomer

    I went through something similar, fell for a crypto scam and lost half a million dollars. I was only able to have it retrieved with the help of a blockchain specialist named eric graham you can reach out to him via ericgrahamtechnology@gmail.com

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