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I have unpaid commission income for 2005 that will ...

Sent to Tax Experts February 21 08:45 AM

I have unpaid commission income for 2005 that will never be paid. I can prove the monies are due me. Can I deduct this loss from other commission income ?

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hendersonville, North Carolina

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nothing

Customer (name blocked for privacy)
Status:  Closed   Value: $15
Answer
February 21 9:25 AM (40 minutes and 30 seconds later)
         
ACCEPTEDCheck Mark

Income that is "not received" can not be deducted. The theory is that you have no "basis" in that income since you never claimed it as income to begin with.

This is unfortuante but it is how the tax law is set up.

jon@jonacpa.com



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February 21 10:16 AM (50 minutes and 15 seconds later)
         
Can this type of non=payment be considered a business loss. I did all the work but did not get paid.
Customer (name blocked for privacy)
Answer
February 21 2:07 PM (3 hours and 51 minutes and 25 seconds later)
         
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Jon Andrews -- Certified Public Accountant (CPA) -- 100% Positive Feedback on 2630 Tax Accepts
I deal with all levels of tax planning and controversy - from the ordinary to the complex.
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