Question

My wife lost 50 percent of her self-employed housecleaning customers and income re: COVID, re: her 2019 income-- is there a deduction for this?

Forum|Forum|5 years ago
May 17, 2021
2 replies
0 views

Do we really have to say we had a vehicle sale when we totalled a truck and gap insurance plus car insurance replaced it in October 2020?

TurboTax Self Employed Online

macuser_22

Employee

No. You do not pay tax on income not received - that is all.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

R

Ruthlilycat

Employee

I am *not* sure I am posting correct info for you here, but I am trying to help.

The income loss *might* be covered under Casualty Loss. I am going to link to an outside source which explains this. President Trump declared the pandemic as a Qualified Disaster.

This link explains a lot of it. I really hope this helps! GL
https://www.thetaxadviser.com/issues/2021/may/casualty-losses-no-physical-losses-coronavirus.html