March 25, 1998
Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: My husband and I bought a membership in a travel club that has gone out of business and we are stuck for over $2,000. Is there some way to claim that on our income tax as a loss? Or are we stuck?A: Generally, membership in a travel club is a personal expense. Personal expenses and losses are not deductible for tax purposes.Richard Kierson, CPA, Neuman & Associates The above advice is for general purposes only and is not intended as legal, accounting or tax advice.