I am a truck driver, a customer refused a produce load I attempted to deliver valued at $9000. My insurance carrier denied my claim so I was left with the tab. Can I write off this expense?
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Yes, you can claim this as a business loss.
it's unclear as to whether you paid the $9.000 out of pocket or just couldn't collect on the load.
if you paid it out of pocket, you can deduct what you paid for it. if you incurred no out-of-pocket expense, you just couldn't collect on delivery there is nothing to deduct because you haven't included it in income.
After the customer refused the load , the shipper wouldn't take it back, so the shipper charged me for load, which now became my load and I ended up disposing it.
Yes, you can claim this as a business loss.
Does this particular loss go under inventory / cost of goods, or business expenses?
It should go under Inventory.
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