Mr. Grifter embezzles $150,000 from his employer. He gets caught . . . but only after having spent much of that money. Is Mr. Grifter properly taxable on that $150,000 – i.e., should it be included in his gross income for FIT purposes? Why or why not?

Answer rating: 100% (QA)

No theft money of 150000 doesnt belon... View the full answer