KurtL1
Expert Alumni

Get your taxes done using TurboTax

You are on a cash basis and therefore, the loss of rent due a tenant leaving without paying cannot be deducted on your return.

 

The following are examples of business bad debts (if previously included in income):

  • Loans to clients, suppliers, distributors, and employees,
  • Credit sales to customers, or
  • Business loan guarantees.
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