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New Member
posted Feb 1, 2021 1:16:38 PM

I had two trips cancelled and lost deposits due to COVD - can I deduct these?

0 4 2068
4 Replies
Level 15
Feb 1, 2021 1:32:56 PM

No.   Sorry but those are personal expenses that are not deductible on your tax return.

Expert Alumni
Feb 1, 2021 1:38:03 PM

Not directly.  Any expenses you incurred related to the cancelled trips are deductible.  The loss of income or the refund of deposits are not deductible as expenses.

New Member
Aug 5, 2023 6:49:23 AM

I recently cancelled a trip as I was in an ICU before the trip was scheduled to leave.  Dr said to cancel trip.  I incurred a loss of 25000$

Can this be a casualty loss?

 

TIA jerry

Level 15
Aug 5, 2023 6:59:31 AM

Sorry--no.   Hope you are feeling better.   But the only time you can enter casualty loss on a federal return now since the tax laws changed for 2018 and beyond is if you have a loss in a federally declared disaster area.