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Tax deductions

My e-bike that I purchased for $1400 in Nov/dec of 2023 with a special deal, that was appraised at $2532 was stolen at end of dec/early Jan. This bike was  used to get to work and back. Is this something I can receive a tax credit for, and if so how do I fill out the form 4684. Also, it is now April 17th and I doubt I’ll receive a response till tom at the earliest. Is there any way I can fill out a form or do something to avoid penalties for filing late ? Thank you very much 

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1 Reply
Vanessa A
Expert Alumni

Tax deductions

No.  A vehicle used to commute back and forth to work is considered a personal use vehicle.  Losses and thefts for personal use property are not deductible. 

 

No, you cannot file an extension now.  It had to be filed by April 15th or 17th for those in MA and ME. 

 

At this point, the best thing to do is to file your return as soon as possible.  If you are getting a refund, there is no penalty.  If you owe, then filing now will minimize any penalties you may incur. 

 

 

 

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