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Monthly Archives: July 2023

Examples of situations where taxpayers may lose their tax deduction for a theft loss

By Lehman Tax Law |

Taxpayers may lose their tax deduction for a theft loss if they have a reasonable prospect of recovering all or a portion of the loss. In such cases, the theft loss deduction will be postponed until there is a recovery or there is a certainty that the loss will not be recovered. For example,… Read More »

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