You'll need to sign in or create an account to connect with an expert.
no
This type of loss is generally considered a loss from theft. If this was a personal debt, it is not deductible on your federal tax return. If this loss is related to a business, it may be deductible as a loss on your business return.
Casualty and theft losses are only deductible when caused by a federally declared disaster.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
msulimo
New Member
livingst
New Member
Raph
Community Manager
in Events
snowy_al
New Member
mkbd11
New Member