I was subject to bank fraud. Can I deduct the financial loss? How do I report the loss? As far as I can tell, TurboTax only recognizes a loss in property value due to the loss.
Yes, you probably can deduct the loss. Where on the return depends exactly on the type of loss/fraud.
Most types are deducted on Sch A as an itemized deductions. However, if you made an investment, and people stole the investment money, it might be deductible as a capital loss.
Here is a link that you can start reading about losses, etc.