We had a very large trip booked and paid for. Due to COVID, trip was cancelled and we lost a lot of money because many items previously paid, would not issue a refund and kept the monies paid as a cancelation fees. Are these losses (over $12K) deductible on the tax forms? Is so, what forms would used to enter the information?Thanks.
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Sorry but there are no deductions on your tax return for your cancelled vacation.
Thanks for the info. I was hoping it was deductible. Just a big loss.
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