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January 18, 2025
Solved

Business loss

  • January 18, 2025
  • 1 reply
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Where do I enter loss for work that was done but we were not paid for?

    Best answer by VolvoGirl

    You can't deduct income you never received.  You will just have less income to be taxed on.  You take the loss by still deducting all your expenses but not your time or labor.

    1 reply

    VolvoGirl
    VolvoGirlAnswer
    Employee
    January 18, 2025

    You can't deduct income you never received.  You will just have less income to be taxed on.  You take the loss by still deducting all your expenses but not your time or labor.