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 Publication 17Forms and Publications PDF Internal Revenue ServicePublication 541 Rev February Publication 541 Rev February 2021-2025

Publication 541 2021-2025 Form

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to deduct business bad debts use your business tax return form also known as the profit or loss from business sole proprietorship form keep in mind that you can only deduct bad debts that are deemed uncollectible as in there's no getting that money back this means you must have already made reasonable or substantial efforts to retrieve the money owed to your organization before you try to deduct that debt on your tax returns

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