QUESTION

If my company rent out investment property to a firm and they are on a year lease and they only paid for 6 months but stayed there for entire year,

Asked on Feb 27th, 2016 on Taxation - Texas
More details to this question:
thus owing for the additional 6 months, that they stayed there did not pay. I sued them in court of law and I received a judgment against them but I never received the money. Can I write that off of my partnership F1065 tax return? Is this a bad debt? My company is a partnership.
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1 ANSWER

Tax Law Attorney serving Houston, TX
Partner at E. Rhett Buck
4 Awards
You can't take a deduction for lost income that you never received.
Answered on Mar 04th, 2016 at 7:52 PM

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