Hello guys, sorry for posting this here, not sure if i should post this here or on r/scams.
Ok, so here's my situation.
Year 2018 : I bought some btc in the beginning of the year and then over the course of some months i accumulated 4 btc in total. I wasn't trading regularly but was bullish on the btc so was holding those 4 btc pretty much until October.
Year 2018 October : I came across a plan where you invest btc and they double it in a while ( PONZI SCHEME IN ACTION) and yes i fall for it 😒. Anyways i send the scammer 1.5 btc which i never recovered back, so i was down to 2.5 btc.
TAX SEASON 2019 : Now whatever happened, i made piece with it, since i know there is no way of recovering, untill any of you might help or give some advice on that.
Also i didn't file my 2018 taxes last year, since i have quite a few transaction, mostly traded on coinbase and coinbase pro, so was very confused how to go with it. Now i finally found a software helping me out with this.
HOW SHOULD I REPORT THIS LOSS : The original purchase price for that 1.5 btc was 15k usd, when i transffered that to the scammer 1.5 btc was worth 10k usd. So in the transaction i can show i lost 5k as the difference between the purchase price and the sale price but HOW CAN I SHOW I LOST 10K USD TO THE SCAMMER AS WELL, IN TOTAL LOST 15K.
SORRY FOR ANY DUMBNESS IN THIS WHOLE SITUATION, I WAS PRETTY NEW TO THIS AND WAS VERY CONFUSED ( LESS CONFUSED NOW) AND AT THIS POINT I JUST WANTED TO FILE THE TAXES THE RIGHT WAY.
ANY ADDITIONAL INFO WILL BE APPRECIATED TOO. THANKS FOR READING THIS FAR.
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source https://www.reddit.com/r/btc/comments/ghgytl/lost_15_btc_to_a_scammer_please_help_me_with_tax/
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