Sunday, September 18, 2005

Tidbits from the IRS

Under the heading Other Income:
Bribes: If you receive a bribe, include it in your income.
also,
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.

1 comment:

Ed said...

Can you claim the depreciation on stolen property as a deduction? What if you give the stolen property away as a gift? Is that tax deductible?