Deduct Bad Debts On Your Taxes; Important Rules To Follow
The current economic climate makes this a good time to focus on bad debt losses. As an individual taxpayer, deducting bad debt losses has always been controversial with the IRS. To claim the deduction, you must first establish that the loss was from a bona fide loan transaction that went wrong. So be alert. Avoid
ABM Editor
June 28, 2023
