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

1 point by philshem 9 months ago | 2 comments
  • philshem 9 months ago
    Discussion from 2021:

    https://news.ycombinator.com/item?id=26674279

    • bell-cot 9 months ago
      > If you steal property, you must report its fair market value in your income in the year you steal it ...

      "Fair market value" as stolen goods, or if it could be sold with a clean title?

      What if that value changes between when it'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?

      BTW, can I ask my fence to do tax withholding for me, when I sell my loot?

      Um...just asking for a friend.

      </joke>