An Act Establishing A Personal Income Tax Deduction For Certain Losses Incurred As A Result Of Cryptocurrency Investment Fraud Or Wire Fraud.

Summary

This Connecticut bill would allow individuals to claim a personal income tax deduction for financial losses they suffer from cryptocurrency investment fraud or wire fraud, provided those losses are deductible under federal income tax law. The deduction would apply to Connecticut state income taxes for taxpayers who experience these types of fraud-related losses. This measure aims to provide tax relief to Connecticut residents who fall victim to these specific forms of financial fraud.