Hahn1040 Posted February 27, 2018 Report Share Posted February 27, 2018 while looking through Pub 525 for something unrelated, I read this: Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner. I would live to know if anyone here has ever had occasion to include this on a return! 2 9 Quote Link to comment Share on other sites More sharing options...
Possi Posted February 27, 2018 Report Share Posted February 27, 2018 I stole a heart once.... just sayin'... 4 3 Quote Link to comment Share on other sites More sharing options...
Richcpaman Posted February 27, 2018 Report Share Posted February 27, 2018 Had Al Capone just put down something.... 4 3 Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted February 27, 2018 Report Share Posted February 27, 2018 http://chicago.cbslocal.com/2018/02/23/napkin-dispenser-thief-walks-it-back/ 6 Quote Link to comment Share on other sites More sharing options...
RitaB Posted February 27, 2018 Report Share Posted February 27, 2018 1 hour ago, Richcpaman said: Had Al Capone just put down something.... He told me to put down the same as last year. But Rich didn't put anything, so there ya go. Look at your returns, people! 8 Quote Link to comment Share on other sites More sharing options...
RitaB Posted February 27, 2018 Report Share Posted February 27, 2018 1 hour ago, ILLMAS said: http://chicago.cbslocal.com/2018/02/23/napkin-dispenser-thief-walks-it-back/ "The crime had not been especially well thought-out, she said. Most of the group paid with credit cards, including the man who stole the napkin dispenser." Crying. 1 5 Quote Link to comment Share on other sites More sharing options...
Richcpaman Posted February 27, 2018 Report Share Posted February 27, 2018 54 minutes ago, RitaB said: He told me to put down the same as last year. But Rich didn't put anything, so there ya go. Look at your returns, people! He told me that he had an offer that I couldn't refuse.... 6 Quote Link to comment Share on other sites More sharing options...
RitaB Posted February 27, 2018 Report Share Posted February 27, 2018 2 minutes ago, Richcpaman said: He told me that he had an offer that I couldn't refuse.... 3 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 27, 2018 Report Share Posted February 27, 2018 Darn. More questions for the interview/organizer. Did you steal something in 2017? What was its Fair Market Value? Did you return it in 2017? What if its value went down/up before it was returned? 1 5 Quote Link to comment Share on other sites More sharing options...
Hahn1040 Posted February 27, 2018 Author Report Share Posted February 27, 2018 34 minutes ago, Lion EA said: What if its value went down/up before it was returned? they could certainly claim a loss! 2 3 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 27, 2018 Report Share Posted February 27, 2018 So, stealing and reporting it on your tax return could be a good tax strategy... 1 3 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted February 27, 2018 Report Share Posted February 27, 2018 12 minutes ago, Lion EA said: So, stealing and reporting it on your tax return could be a good tax strategy... Is that income "earned" and can it be used for EITC? Tom Modesto, CA 2 1 3 Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted February 27, 2018 Report Share Posted February 27, 2018 What if you steal something Christmas Eve, and can't return it until after the New Year? 4 1 Quote Link to comment Share on other sites More sharing options...
FDNY Posted February 27, 2018 Report Share Posted February 27, 2018 7 minutes ago, Gail in Virginia said: What if you steal something Christmas Eve, and can't return it until after the New Year? Short term gain or loss. 3 2 Quote Link to comment Share on other sites More sharing options...
SaraEA Posted February 28, 2018 Report Share Posted February 28, 2018 Did you know that under Circular 230 Sect 10.51(a)(12), a practitioner can be sanctioned for "Contemptuous conduct in connection with practice before the Internal Revenue Service, including the use of abusive language...." So all you EAs and CPAs out there, watch your mouth! 4 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted February 28, 2018 Report Share Posted February 28, 2018 11 minutes ago, SaraEA said: Did you know that under Circular 230 Sect 10.51(a)(12), a practitioner can be sanctioned for "Contemptuous conduct in connection with practice before the Internal Revenue Service, including the use of abusive language...." So all you EAs and CPAs out there, watch your mouth! Damn, Sara is on a roll....cussing on this site is now an event that can be sanctioned! I need Judy to go back and change the title on my post about the iterative method of determining the SE HI deduction before I lose my license. Tom Modesto, CA 5 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 28, 2018 Report Share Posted February 28, 2018 35 minutes ago, SaraEA said: So all you EAs and CPAs out there, watch your mouth! What I say in the privacy of my own office is only subject to my own soap! Not outside sanctions! 4 4 Quote Link to comment Share on other sites More sharing options...
RitaB Posted February 28, 2018 Report Share Posted February 28, 2018 3 hours ago, BulldogTom said: Damn, Sara is on a roll....cussing on this site is now an event that can be sanctioned! I need Judy to go back and change the title on my post about the iterative method of determining the SE HI deduction before I lose my license. Tom Modesto, CA Oh, &^%% to the no, that's the only way I can find it when I need it. One more year, $%^&*#. 2 5 Quote Link to comment Share on other sites More sharing options...
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