DongdaemunTrendsetter
Fri Jul 12 2024
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7 answers
1637
Are cryptocurrency theft losses tax deductible?
I'm curious to know if losses incurred from cryptocurrency theft are tax deductible. With the rise of digital currencies, more and more individuals and businesses are investing in cryptocurrencies, and unfortunately, theft is a growing concern. Would these losses be treated similarly to losses from traditional investments, such as stocks or bonds, that are deductible under certain circumstances? Clarifying this would provide investors with valuable insight on how to properly handle such losses for tax purposes.
