Lost Wages

[gman]

Trucking company owe driver 2500.00 in wages. There is no deduction to cash basis for this lost amount ???

[Jesse]

I'd say

There is no deduction to cash basis for this lost amount

you answered your own question correctly.

[Gretel]

I am changing this law, right here and now.

I have lost tax prep fees to the self-preparer community of about $100,000. I will claim this as a NOL and get my taxes back from the last years.

[thomtax]

I am changing this law, right here and now.

I have lost tax prep fees to the self-preparer community of about $100,000. I will claim this as a NOL and get my taxes back from the last years.

You made enough money to pay taxes? You must not be preparing your return correctly.

LT

[oceanlovin'ea]

not included in income

You wouldn't include it in income if he never received it.

If the trucking company included it in their 1099, then I would back it out in the expenses.

Linda

[thomtax]

You wouldn't include it in income if he never received it.

If the trucking company included it in their 1099, then I would back it out in the expenses.

Linda

I guess I misunderstood. The original post said wages. If wages, it should be W2, not 1099. If that is the case, was the $2500 included on the W2?

LT

[taxea]

I am changing this law, right here and now.

I have lost tax prep fees to the self-preparer community of about $100,000. I will claim this as a NOL and get my taxes back from the last years.

You are kidding, right?
If you're not and you do this I suggest you move to a country that does not have an extradition treaty with the U.S.