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Business & farm
You don't do anything with the $5,900 unpaid invoice for your tax return. You didn't recognize it as income, so you can't write it off as a loss, unless you are on an accrual based accounting system and you reported it as income on last year's tax return (which I doubt you are). It is just revenue that never happened, which isn't reportable. It's unfortunate, but not a taxable event.
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March 9, 2025
6:37 PM
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