Crypto scam losses
Varies
Can You Write Off Crypto Scam Losses?
Short answer: Possibly: losses from scams you entered to make a profit, like fake investment platforms, can be theft losses; romance-scam gifts generally can't.
An IRS memo in 2025 outlined when scam victims qualify.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
Crypto scam losses
Varies
Individuals / Personal Taxes
Possibly: losses from scams you entered to make a profit, like fake investment platforms, can be theft losses; romance-scam gifts generally can't.
Business justification
Possibly: losses from scams you entered to make a profit, like fake investment platforms, can be theft losses; romance-scam gifts generally can't. An IRS memo in 2025 outlined when scam victims qualify.
Category
- Personal Tax Deductions