Funny thing is that losses due to theft were tax-deductible until 2022, when the Trump’s Tax Cuts and Jobs Act of 2017 eliminated many itemized deductions in lieu of a higher standard deduction. You are still required to report gains from theft as capital gains of course.
Funny thing is that losses due to theft were tax-deductible until 2022, when the Trump’s Tax Cuts and Jobs Act of 2017 eliminated many itemized deductions in lieu of a higher standard deduction. You are still required to report gains from theft as capital gains of course.