So I have no idea how this happened, Most likely the bolt wasn't aligned properly when I was screwing it in. The threads on the bolt and caliper are both damaged, what do I do from here? New caliper or can I somehow fix this?

 

Revove the caliper from the car, and install a helicoil in the messed up hole. If you can't do it, take it to a machine shop, they'll be able to do it. And get a new bolt.

 

Well it's already off, this is my project car I'm putting together. But thanks! I'll try that

 

Whatever you do you have to avoid damaging the tapered seat. That sounds tricky to me.

 

This happened to me when i was rebuilding a set a few years ago, we ended up using a helicoil and it worked fine after that.