Deduction for Bad Debts

Deduction for Bad Debts

4.11 - 1251 ratings - Source

not include any amount deducted in an earlier tax year when the debt was only partly worthless. ... If you receive property in payment of a debt, you must reduce the debt by the fair market value of the property. ... method applies only to amounts to be received from the performance of services (accounts receivable), and may not be used if you require that interest or penalties be (paid for late payments.

Title:Deduction for Bad Debts
Author:United States. Internal Revenue Service
Publisher: - 1988


You Must CONTINUE and create a free account to access unlimited downloads & streaming