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Personal losses due to my employer company going bankrupt

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M

Machtyn

Guest
Ok, here's a strange one. I worked for a company last year that went bankrupt. I remained an employee through the bankruptcy in the hopes that the company would pull through. Things we looking very good, we had orders, but alas no money was being paid to the company. Eventually, everyone in the company (about 10 people) realized that none of could subsist any longer with no pay. (We had been paid for about 3 months of work, but that money ran out)

My question is: Can I claim losses incurred because I worked at this company for about 2 months without pay?

I was using TaxACT software, and one of the questions in the program got me thinking about this.

Thanks,
Machtyn
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