Solved: No, you cannot claim amounts you were not paid, unless yo...

I own a preschool. can i deduct amounts that we were not paid for by the parents?

is bad debt a business deduction

posted

No, you cannot claim amounts you were not paid, unless you are on an accrual basis and you had already reported the amounts as revenue. Individual taxpayers are on a Cash basis.

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No, you cannot claim amounts you were not paid, unless you are on an accrual basis and you had already reported the amounts as revenue. Individual taxpayers are on a Cash basis.