What is the name of your state?New Jersey
Hello,
We had our basement remodeled and the first contractor disappeared with $9000 of our money and a barely completed job. We were able to track him down and won in court. He had been paying us through the court, $200/month for the last 5 months.
We have just learned that he has filed for bankruptcy. If he wins and we then have no way to ever collect our funds...are we ever able to claim some sort of loss on our taxes?
I appreciate any information.
Bonnie
Hello,
We had our basement remodeled and the first contractor disappeared with $9000 of our money and a barely completed job. We were able to track him down and won in court. He had been paying us through the court, $200/month for the last 5 months.
We have just learned that he has filed for bankruptcy. If he wins and we then have no way to ever collect our funds...are we ever able to claim some sort of loss on our taxes?
I appreciate any information.
Bonnie