2000 Tax Help Archives  

Publication 535 2000 Tax Year

Introduction

This is archived information that pertains only to the 2000 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

If someone owes you money you cannot collect, you have a bad debt. There are two kinds of bad debts--business bad debts and nonbusiness bad debts.

Generally, a business bad debt is one that comes from operating your trade or business. You can deduct business bad debts as an expense on your business tax return.

All other bad debts are nonbusiness bad debts and are deductible as short-term capital losses on Schedule D (Form 1040). For more information on nonbusiness bad debts, see Publication 550.

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