Business, 31.07.2020 17:01 tjmoney8614
Bobby is a self-employed taxpayer reporting his business income on Schedule C (Form 1040 or 1040-SR). Identity thieves gained access to his business checking account and stole $10,000. After completing Form 4684, Casualties and Thefts, where does Bobby report this on his tax return?
Schedule C (Form 1040 or 1040-SR), line 2.
Bobby cannot deduct the loss.
Form 4797, line 14.
Schedule A (Form 1040 or 1040-SR), line 16.
Answers: 3
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Bobby is a self-employed taxpayer reporting his business income on Schedule C (Form 1040 or 1040-SR)...
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