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How do you report an economic loss of sales on an S-Corp due to a hurricane in a federal declared disaster area?

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Level 15

You don't. Client pays tax on actual income. Due to this disaster it is apparently less than what it otherwise would be.


ex-AllStar

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Level 15

You don't. Client pays tax on actual income. Due to this disaster it is apparently less than what it otherwise would be.


ex-AllStar

View solution in original post

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Level 10
As Chuck used to say, you can't write off what you never wrote on!
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Level 15
:smile::smile:

ex-AllStar
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