Timeline for Does the potential criminal value of objects have any legal uses, such as in tax deductions?
Current License: CC BY-SA 4.0
3 events
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| Mar 23, 2022 at 0:06 | comment | added | ohwilleke | @user32157 The value is the lesser of FMV or adjusted basis. Unless you paid $100,000 for it, adjusted basis and not FMV would be used to value the property. | |
| Feb 21, 2022 at 11:49 | comment | added | user32157 | The value could probably be established, such as if a criminal had recently offered me $100,000 to buy the blackmail items but I had refused and I have a record of this offer. Would that help? I guess the problem is that it's likely anything that can be used for blackmail has legitimate value too, for tell-alls like you suggest or for a sort of collector so it exactly fit my situation. A hammer's value would be capped by how much it cost to replace it, though, so I don't think that works as an example. Maybe the security code to a billionaire's bank vault or something instead? | |
| Feb 20, 2022 at 21:56 | history | answered | David Siegel | CC BY-SA 4.0 |