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Bad debt?

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  • S T
    replied
    Notes

    My Tax Software allows me to add notes, so that I can still efile.
    Doesn't appear that form 8453 will work, as I don't think you can check any of the boxes listed.

    Sandy
    Last edited by S T; 06-02-2009, 08:36 PM. Reason: spelling

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  • Possi
    started a topic Bad debt?

    Bad debt?

    My client loaned a man $2000.00, 2006. He got paid $100.00 in 06 and $100 in 17. When he tried to collect the balance, he was threatened and spat upon. He is not going to receive the balance.

    We are taking the loss as s/t on Sch D as instructions state. (Non business bad debt)

    The instructions also say that I need to attach a statement to the return. I didn't know that, until I read the entire instruction. Can I not e-file this return?

    I did a bad debt on Sch D many yrs ago when I was at tax-in-a-box and simply entered "bad debt" and let it rip. I don't think it came back at us...

    Just whining, I know.....but I really wanted to e-file this friggin return.

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