Recourse for lost luggageQuestion What financial recourse do I have if luggage and a laptop are stolen on a business trip?
Answer That depends on your insurance coverage and other factors.
- Lost luggage may be covered under a homeowner's policy - The laptop may be covered under a business policy - Any uninsured loss may be tax deductible within specific limits For details on deducting theft losses, see IRS Publication 547, Casualties, Disasters and Thefts, at www.irs.gov. 
Brain Trust contributor:
Author of J.K. Lasser's Small Business Taxes 2007
Related Categories: Accounting, Finance, Taxes
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