Issues from Vantage Travel's Bankruptcy

[larryhersh]

We paid for a lot of mony for a trip to Antarctica on Vantage Travel.  Vantage has declared Chapter 11 Bankruptcy, and we have little hope of getting any of our money back.

My question is:  Is the loss to us due to Vantage Travel's bankruptcy deductible on our federal tax returns?

[Bsch4477]

No, it is a personal not a business loss. 

[Opus 17]

Sorry, no.  However, if you do get any recovery from the bankruptcy court, that won't be taxable unless it is more than you paid, even if the attorneys sent a 1099-MISC.