Can a Taxpayer Deduct a Theft Loss?
There have been many unfortunate stories this tax season of clients who have been scammed and had money or cryptocurrency stolen. Their tax professionals, understandably so, want to provide relief by deducting the theft loss under §165. https://www.tomtalkstaxes.com/p/can-a-taxpayer-deduct-a-theft-loss (Mar 14, 2025)