Can I claim a loss of $880. cash held in an account with a company for fuel oil, the owner died and the company ceased operation. No fuel oil or money reimbursement.
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June 5, 201911:49 AM
last updated
June 05, 201911:49 AM
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Can I claim a loss of $880. cash held in an account with a company for fuel oil, the owner died and the company ceased operation. No fuel oil or money reimbursement.
Yes, that is deductible as a bad debt. It is reported as a short term capital loss on form 8949.
To enter, in TurboTax, type> bad debt, non-business <in the find box. Then click Jump to.
Can I claim a loss of $880. cash held in an account with a company for fuel oil, the owner died and the company ceased operation. No fuel oil or money reimbursement.
Yes, that is deductible as a bad debt. It is reported as a short term capital loss on form 8949.
To enter, in TurboTax, type> bad debt, non-business <in the find box. Then click Jump to.
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