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bamboogabe
February 21, 2025
Question

Does the theft of digital assets count as an NOL?

  • February 21, 2025
  • 1 reply
  • 0 views
I was the victim of a SIM swap in 2024 which allowed someone to steal a significant amount of my cryptocurrency portfolio. I am wondering how to claim that loss and if it would be considered an NOL.

    1 reply

    AmyC
    AmyC
    Employee
    February 22, 2025

    Losses due to theft of cryptocurrency are high and not currently deductible. It does not create an NOL.

    Reference: Your Crypto Tax Guide - TurboTax - Intuit

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