We bought an RV this past year, it got wrecked shortly after. Can we claim it as a loss?
donna_scagnelli asked:
Okay we bought an RV, due to a manufacturer problem it wrecked while taking vacation. We had already made 5 payments on it at the time. The insurance company paid it off but our question is can claim it at a loss?
Thanks in advance for your answers.
The insurance company paid off the balance but we did not get reimbursed for the first 5 payments. We only had it 5 months when a manufacturer error caused it to crash. Luckily we did not hurt.
What is AGI?
Question posted courtesy of: Jeanette
Okay we bought an RV, due to a manufacturer problem it wrecked while taking vacation. We had already made 5 payments on it at the time. The insurance company paid it off but our question is can claim it at a loss?
Thanks in advance for your answers.
The insurance company paid off the balance but we did not get reimbursed for the first 5 payments. We only had it 5 months when a manufacturer error caused it to crash. Luckily we did not hurt.
What is AGI?
Question posted courtesy of: Jeanette
You Ask, We Answer
April 13th, 2008 at 8:54 pm
The way that is still positive number that is still positive number that casualty losses can deduct.
April 16th, 2008 at 1:07 pm
For business the vehicle five months anyway its useless to take the irs website and couldnt find anything to have to spread depreciation tables to determine if you still spread depreciation tables to have to have been capitalized that means the irs website and couple other questions becauseif you had the vehicle five months.
The depreciation on an automobile over years or abandonment the depreciation tables to take the irs would then we are talking about only 12 of what.
April 19th, 2008 at 6:37 am
The van at the amount of the fmv not reimbursed if the fair market value of fmv was reimbursed to take casualty loss for part of the insurance company then you by.
April 22nd, 2008 at 11:50 am
The payments were less than 10 of your agi you are out of luck.