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IRS Guidance for Thieves, Drug Dealers, and Corrupt Officials (2014)

1 pointsby philshem8 months ago

2 comments

philshem8 months ago
Discussion from 2021:<p><a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=26674279">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=26674279</a>
bell-cot8 months ago
&gt; If you steal property, you must report its fair market value in your income in the year you steal it ...<p>&quot;Fair market value&quot; as stolen goods, or if it could be sold with a clean title?<p>What if that value changes between when it&#x27;s stolen and the end of my tax year, or when I sell it? Should I treat the latter as a short-term capital gain or loss?<p>BTW, can I ask my fence to do tax withholding for me, when I sell my loot?<p>Um...just asking for a friend.<p>&lt;&#x2F;joke&gt;