can I claim on my taxes a loss for being robbed

FreeBirdTim

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Sep 24, 2013
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Scituate, RI
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Garrett AT Pro
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never had gains, I never sold anything, after 20 years plus detecting,

You don't have to sell any of your finds for it to be considered a financial gain. That's one of the sleazier things the IRS pulls. If I found 100k in gold, I would have to sell half of it to cover the taxes, even though I didn't want to sell any of it. It's considered taxable income right away, so you can't tell them "I'll pay taxes on it when I sell the gold". How they get away with that nonsense is beyond me...

https://en.wikipedia.org/wiki/Cesarini_v._United_States
 

Gare

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Dec 30, 2012
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Canton Ohio Area
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Presently using Deus 2's & have Minelabs, Nokta's Tesoro's DEus's Have them all . Have WAY to many need to get rid of some
Primary Interest:
All Treasure Hunting
You don't have to sell any of your finds for it to be considered a financial gain. That's one of the sleazier things the IRS pulls. If I found 100k in gold, I would have to sell half of it to cover the taxes, even though I didn't want to sell any of it. It's considered taxable income right away, so you can't tell them "I'll pay taxes on it when I sell the gold". How they get away with that nonsense is beyond me...

https://en.wikipedia.org/wiki/Cesarini_v._United_States
No but i believe you have to declare it as present value income
 

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