Is stolen crypto considered a deductible loss?

3 answers

• May 06, 2022 · 3 years ago
  Yes, if your stolen crypto meets the criteria for a deductible loss, you may be able to claim it on your taxes. However, you should consult with a tax professional to understand the specific requirements and regulations in your jurisdiction. They will be able to guide you on how to properly report the loss and any potential deductions you may be eligible for.
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• May 06, 2022 · 3 years ago
  Unfortunately, stolen crypto is not automatically considered a deductible loss. The tax treatment of stolen crypto varies depending on the jurisdiction and the specific circumstances. It's important to consult with a tax professional who is knowledgeable in cryptocurrency taxation to understand the rules and regulations that apply to your situation.
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• May 06, 2022 · 3 years ago
  According to BYDFi, stolen crypto may be considered a deductible loss in certain cases. However, it is crucial to consult with a tax professional to ensure compliance with tax laws and regulations. They can provide guidance on how to properly report the loss and any potential deductions that may be available to you.
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