Tax deductible?

Question

Jan 28, 2006, 08:06 AM

Jake95

New Member

Join Date: Jan 2006

Posts: 1

Tax deductible?

Are personal items that were appraised and taken to a dealer for sale with the money going to the trustee to dispurse tax deuctible.

Answers

Jan 28, 2006, 01:46 PM	#2

Fr_Chuck

Christianity Expert

Join Date: Nov 2005

Location: Atlanta GA

Posts: 28,011

Quote:

Originally Posted by Jake95

Are personal items that were appraised and taken to a dealer for sale with the money going to the trustee to dispurse tax deuctible.

Not if you are the person having the personal items taken, for that you are merely paying your bills, no differnt than writing a check to have the bill paid.

For the lender, if the item is sold, the amout he loses ( not fully paid for the loan) can be taken off as a bad debt.

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