Can you claim a lost car where you are the lienholder on the lease? This question is in regards to my boss. The auto shop I work at opened in 2012. In 2013, my boss lost almost $32,000 because of people disappearing with the cars while on lease. The question is, if the cars were worth $32,000 and he only received $5,000 (estimated numbers), would he claim his personal income minus the $27,000 or should he do a Tax Loss Carryback since he made profit in 2012? |