I lost my car to a payday loan. Can I deduct that on my taxes?
September 20th, 2008
urbutlergirl asked:
I live in Illiois. I couldn’t repay my payday loan so the company took my car instead. Can I deduct this loss on my 2006 income taxes?
Need Payday Loan
I live in Illiois. I couldn’t repay my payday loan so the company took my car instead. Can I deduct this loss on my 2006 income taxes?
Need Payday Loan
Filed under: Payday Loan | Tags: 2006 Income Taxes, Car Loan, Loan Company
September 20th, 2008 21:20:35
k_hart100
September 23, 2008
You can’t deduct stupidity or laziness on your return. NO!!
Wayne Z
September 27, 2008
For nonpayment of loan is neither casualty or theft.
badbill1941
September 28, 2008
I don’t think so, but it would be best to check with a tax adviser.
lilabner
September 28, 2008
The answer is no you cannot claim loss for your inability to repay loan.
Judy
October 1, 2008
No, it’s not considered a casualty loss, or any other kind of deductible loss.
ninasgramma
October 4, 2008
The loan with your car there is nothing to deduct.