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Get your taxes done using TurboTax
Thank you, I had tried that. However, that does NOT allow you to add the explanatory information that IRS requires for nonbusiness bad debt deductions.
Does anyone know how to add that explanatory page in Turbotax premier online?
Here's the information that MUST be included (quoting IRS tax topic # 453):
"A nonbusiness bad debt deduction requires a separate detailed statement attached to your return. The statement must contain: a description of the debt, including the amount and the date it became due; the name of the debtor, and any business or family relationship between you and the debtor; the efforts you made to collect the debt; and why you decided the debt was worthless."
https://www.irs.gov/taxtopics/tc453
May 23, 2020
5:11 PM