What NONBUSINESS BAD DEBTS means: A bad debt loss not incurred in connection with a creditor's trade or business. A nonbusiness bad debt is deductible as a short-term capital loss and is allowed only in the year the debt becomes entirely worthless.
- Definition Nontaxable Income:
- Dictionary Income that is by law exempt from tax nonbusiness bad debts definition.
- Definition Necessary:
- Dictionary An expense that is appropriate and helpful in furthering the taxpayer's business or income-producing activity. See also Ordinary defined elsewhere in this glossary nonbusiness bad debts explain.
- Definition Nontaxable Exchange:
- Dictionary An exchange on which no gain or loss is recognized in the current year. The realized gain generally is recognized when the property acquired in the exchange is sold nonbusiness bad debts what is.
- Definition Nontaxable Earned Income:
- Dictionary Income a taxpayer receives for services that is excludable from gross income. Examples include military housing allowances, ministers' housing allowances, and excludable combat pay nonbusiness bad debts meaning.
How works Nonbusiness Bad Debts meaning in Tax definitions N .
