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Level 1
Jun 6, 2019 9:39 AM UTC
Question

Owed vacation pay

My company declared bankruptcy and I lost my job.  I lost about 8 weeks of unused vacation pay.  Is that deductible?

1 reply

Level 10
Jun 6, 2019 9:39 AM UTC

Unfortunately, this is not deductible.  Instead, that pay would never be included as income.  Therefore, there it is not included as part of your taxable income.