Important Service Announcement: Based on user feedback we are not shutting down the TaxAlmanac.org website however the site is now an archived version as of June 2014. While all of the existing discussion threads and commentary will be preserved you will no longer be able to edit content, post to forums or create additional logins.

Talk:Casualty and Theft Losses

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

I have a customer with losses of over $300,000 (losses in cash) he gave a bar hostess from Feb 2008 to Aug 2008. This seems to fall under theft and I would think this falls under illegal actions and is deductible as a personal theft and casualty loss. Is there some place I can go to, on line, to find out if it is illegal to take $300,000 (In Hawaii) this way, so that I am sure this is an allowable theft loss. I have a good trail on the funds taken, because it all came out of one stock acount, and the sales were reported on Schedule D. There were five seperate large transactions.

Retrieved from "http://www.taxalmanac.org/index.php/Talk:Casualty_and_Theft_Losses"
Personal tools