Where do i report business loss on schedule c for nonpayment of services rendered

[nblcsw]

where do I report business loss for nonpayment of services rendered?

[Marketstar · Accepted solution]

If you operate on the Cash Basis of reporting whereby you only recognize income as received and expenses as paid, the IRS does not allow a deduction or credit for income not received.

However, less income may generate less tax owed.