Capital Loss due to Online Crypto scam
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
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Answers
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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:
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