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Discussion Starter #1
I live in Texas.
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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Have you ever heard of people calling a Watercraft a motor bike?? I ran into a salesman once that kept calling a Seadoo a Motor bike??
 

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Les had better stay out of Texas then :lol:
 

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56tbird said:
Les had better stay out of Texas then :lol:
Les wouldn't have a motor-bike, he would have a motor-trike :lol: , Or would it be called a motor-quad, the 2 wheels the motor-bike would have plus the 2 training wheels. :lol: It would also have a height restiction on it would need to be small so his feet could touch the ground. :lol: :twisted:
 

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You guys shouldn't be so hard on the poor guy. I mean, he lost his bike. And he's obviously short on cash. How's he going to dine out now, with the poor wage he makes in the arts and entertainment industry? :D :D
 

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Re: I lost my motorbike to a payday loan. Can I deduct that

ReggieRHillJr said:
Can I deduct this loss on my income taxes?

Absolutely. :mrgreen:
 

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Racnrick said:
56tbird said:
Les had better stay out of Texas then :lol:
Les wouldn't have a motor-bike, he would have a motor-trike :lol: , Or would it be called a motor-quad, the 2 wheels the motor-bike would have plus the 2 training wheels. :lol: It would also have a height restiction on it would need to be small so his feet could touch the ground. :lol: :twisted:
With a well pump motor :D

I had to
 
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