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My accountant is not showing the unpaid employee loans for the year end. I have posted them as bad debt for this as they are loans for employees that are no longer with us and neglected to pay back. Where could he have applied this?


ANSWER


The BIDaWIZ Team's Answer:

See IRC 166. Deduct the amount as a "business bad debt," expense, and

write-off the loan amounts.

The BIDaWIZ Team

 

 

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