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kathymatthews831
February 11, 2023
Question

Can I claim bankruptcy payments on my taxes?

  • February 11, 2023
  • 1 reply
  • 0 views
I filed for bankruptcy and have been making payments.  Can I claim these payments on my taxes?

1 reply

M
MonikaK1
February 11, 2023

Assuming you are referring to a Chapter 13 bankruptcy, in which the debtor pays disposable income into a monthly “plan” to pay creditors, how the amounts you are paying are treated depends on what they represent. Contact your bankruptcy attorney or other legal representatives for assistance. The Trustee may request copies of your returns.

 

See this article for more information from TurboTax. It's essential that you follow the terms of the plan.

 

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