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#1 |
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Registered User
Join Date: Oct 2008
Posts: 3
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I lost my motorbike to a payday loan. Can I deduct that on my taxes?
I live in Nevada. I couldn't repay my payday loan so the company took my motorbike instead. Can I deduct this loss on my income taxes?
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#2 |
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Harold Hecuba Productions
Join Date: Sep 2004
Location: New Berlin, Illinois
Posts: 934
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So let me get this straight - you live in Massachusetts, New Jersey, and Nevada, and you've (so far) lost a car, an auto, and now a motorbike to payday loans.
Seems like, with that many residences and that many payday loans, you need to review your financial life and make some tough decisions...
__________________
jb IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment). |
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