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Level 2
April 20, 2021
Question

Where do I report equipment theft on schedule C?

  • April 20, 2021
  • 1 reply
  • 21 views
I have not run into this ever so I am not sure how to report theft of equipment for my contractor client.
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1 reply

sjrcpa
Level 15
April 20, 2021

Form 4684 Business casualty loss. But if it's small stuff they already expensed they have no tax loss since they have no basis.

The more I know the more I don’t know.