topic Does a bad debt go into returns and allowances on a schedule C? in Get your taxes done using TurboTax

Does a bad debt go into returns and allowances on a schedule C?

bobdebiase — Tue, 04 Jun 2019 22:50:01 GMT

Does Bad Debt go in Part I line 2 on Sch C or is it just taken off

of gross receipts on line 1 e.g. bad debt is 3000 dollars

gross receipts are 203,000 dollars new gross receipts are

200,000 dollars

Answer "B" is more accurate. You never received the mone...

DanielV01 — Tue, 04 Jun 2019 22:50:02 GMT

Answer "B" is more accurate. You never received the money. You would say it was a return if you received the money and then returned it (a refund, for example).