Vanessa A
Expert Alumni

Retirement tax questions

For the handyman, if you were out cash, as in you paid him and he did not complete the work, then yes, you can include that.  
Stolen business funds would NOT be a non business bad debt, as it was related to a business.  This means it would have to be written off on your business return as a business expense.

Damages by central unit tenant?  Rental property?  This would also not be a non business bad debt.  The damages would need to be deducted on your Schedule E when you made the repair.

That is correct, you can NOT include the interest ONLY the amount of cash that you are actually out. 

 

 

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