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posted Mar 13, 2024 9:37:17 AM

Can a $1200 propane prebuy be deducted since company filed bankruptcy? If so where do I put it?

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1 Replies
Expert Alumni
Mar 13, 2024 2:42:27 PM

No, if this is a personal expense, then you cannot claim it as a loss.  If this wasn't an investment, it was simply pre buying propane to use personally, then it is not deductible.

 

If this was for a business, then it you can claim it as a bad debt expenses. You will find this in the Business Expense section under Other Common Business Expenses.