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Thanks, I was unaware of that change. Note that limit largely just applies to personal property: "For tax years 2018 through 2025, individual taxpayers with the
by hn_throwaway_99 2y ago
Thanks, I was unaware of that change. Note that limit largely just applies to personal property: "For tax years 2018 through 2025, individual taxpayers with theft losses are allowed a deduction if the loss is due to theft related to a transaction entered into for profit.", https://www.irs.gov/taxtopics/tc515#:~:text=For%20tax%20years%202018%20through%202025%2C%20individual%20taxpayers%20with%20theft%20losses%20are%20allowed%20a%20deduction%20if%20the%20loss%20is%20due%20to%20theft%20related%20to%20a%20transaction%20entered%20into%20for%20profit https://www.irs.gov/taxtopics/tc515#:~:text=For%20tax%20year....
E.g. for financial fraud crimes, you much more than likely would still be able to take the loss.