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Issues from Vantage Travel's Bankruptcy

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?

2 Replies

Issues from Vantage Travel's Bankruptcy

No, it is a personal not a business loss. 

Issues from Vantage Travel's Bankruptcy

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.

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