Theft and scam losses
Varies
Can You Write Off Theft and Scam Losses?
Short answer: Generally no for personal theft, but losses from scams where you were trying to make a profit may be deductible.
IRS guidance in 2025 allowed some investment-scam losses; document the fraud and any recovery efforts.
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.
Theft and scam losses
Varies
Individuals / Personal Taxes
Generally no for personal theft, but losses from scams where you were trying to make a profit may be deductible.
Business justification
Generally no for personal theft, but losses from scams where you were trying to make a profit may be deductible. IRS guidance in 2025 allowed some investment-scam losses; document the fraud and any recovery efforts.
Category
- Personal Tax Deductions