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Quick tax question re chargebacks
How/what do you report chargebacks as on your taxes?
Business losses / bad debt? With any fees as an operating expense or something else? :helpme |
I am not an accountant, only play one on TV, but if I recall correctly ... your CPA or EA should report it on Schedule C in the section titled "returns and allowances". It should be under the gross income received field. Chargebacks are a form of a return or refund.
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