How to account for a bad debt in TT Self-Employed

How to I account for a bad debt (non-payment for services rendered) in TurboTax Self Employed?

posted

If you are a cash-basis taxpayer, you don't report bad debt on your Schedule C. If you are an accrual based taxpayer that claimed the income previously, then you could deduct it provided you can prove your collection efforts.

Topic No. 453 Bad Debt Deduction | Internal Revenue Service

Where to enter business expenses

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

-my understanding when i filed was that the taxes due to the state of VA would be debt from the account that was on file. due today and not debited yet.

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

How to account for a bad debt in TT Self-Employed

How to account for a bad debt in TT Self-Employed

Get more help

Do you have a TurboTax Online account?

How to account for a bad debt in TT Self-Employed

Do you have an Intuit account?

How to account for a bad debt in TT Self-Employed

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert