CT HB05115

Creates a Connecticut personal income tax deduction for theft losses resulting from cryptocurrency investment fraud or wire fraud, effective January 1, 2027

Deduction amount equals the theft loss that is properly deductible under Section 165 of the Internal Revenue Code for federal income tax purposes

Applies to taxable years commencing on or after January 1, 2027

Amends section 12-701(a)(20)(B) of the Connecticut General Statutes by adding a new clause (xxxviii) to the list of subtractions from federal adjusted gross income