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taylortonya40
New Member

If someone embezzled money from you can you claim that money as loss of income

If someone embezzled money from you can you claim that money as loss of income
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hbl3973
Level 8

If someone embezzled money from you can you claim that money as loss of income

You can claim an itemized deduction for the theft loss.  See, e.g., the IRS web page

https://www.irs.gov/taxtopics/tc515.html

and their publication 547 (https://www.irs.gov/pub/irs-pdf/p547.pdf) for details.



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hbl3973
Level 8

If someone embezzled money from you can you claim that money as loss of income

You can claim an itemized deduction for the theft loss.  See, e.g., the IRS web page

https://www.irs.gov/taxtopics/tc515.html

and their publication 547 (https://www.irs.gov/pub/irs-pdf/p547.pdf) for details.



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