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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?

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DawnC
Employee Tax Expert

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

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

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