TaxGirl3
Level 5
03-31-2024
08:22 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Medical practice client received a 1099 that includes Accounts Receivable that was purchased. Total amount needs to be reported on 1120S line 1a as gross receipts.
Does anyone have a recommendation as to the best way to deduct the purchased A/R?
Thank you!
Best Answer Click here