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@ccunning@lemmy.world to No Stupid Questions@lemmy.world • 2 months ago

How can a US citizen invest outside the reach of the federal government?

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How can a US citizen invest outside the reach of the federal government?

@ccunning@lemmy.world to No Stupid Questions@lemmy.world • 2 months ago
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  • JackbyDev
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    0•2 months ago

    That is always so funny to me. “Hi IRS. I stole $10k worth of goods in 2023, but before I could sell them in 2024 the police confiscated them. Do I count this as a loss for 2024 or…?”

    • @ch00f@lemmy.world
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      1•2 months ago

      The U.S. Supreme Court in Tellier reiterated that the purpose of the tax code was to tax net income, not punish unlawful behavior.

      So…yes kind of.

      https://en.wikipedia.org/wiki/Taxation_of_illegal_income_in_the_United_States

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