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I have a clothing business and IA was scammed out of inventory and the bank did not refund me. How do i claim this as a loss?

 
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1 Reply
KrisD15
Expert Alumni

I have a clothing business and IA was scammed out of inventory and the bank did not refund me. How do i claim this as a loss?

You will show a decrease in inventory with no income for the decrease. 

It isn't reported as a direct loss/expense but it will turn out that way since the inventory that you purchased (expense) will not result in income, so it stays a loss. 

 

HERE is a thread with a similar question that might make it clearer. 

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