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Level 1
June 6, 2019
Question

Owed vacation pay

  • June 6, 2019
  • 1 reply
  • 8 views
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
June 6, 2019

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.