Can bad debt be deducted as non business debt?
Can bad debt be deducted as non business debt? A business deducts its bad debts, in full or in part, from gross income when figuring its taxable income. Nonbusiness Bad Debts – All other bad debts are nonbusiness. Nonbusiness bad debts must be totally worthless to be deductible. You can’t deduct a partially worthless nonbusiness […]