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Topic: US tax- how to deduct loss from theft (Read 1016 times)

sr. member
Activity: 306
Merit: 257
April 05, 2014, 06:05:19 PM
#3
That's an interesting question. As strange as it seems, IRS treats investment fraud losses preferentially compared to regular capital loss. For example you can write off more than usual $3000 amount http://cliftoncpa.com/publications/enewsletters/tax/issues/15/InvestmentTheft.asp.
sr. member
Activity: 431
Merit: 251
March 31, 2014, 11:44:43 AM
#2
Not a lawyer or an accountant, but my understanding would be that you could claim it as a capital loss.
sr. member
Activity: 317
Merit: 252
March 31, 2014, 11:40:58 AM
#1
Someone invests in BTC, and some of their coins get stolen. What do they report on the tax form?

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