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What amount can sam deduct for bad debt

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Reference no: EM132911379

Sam's Sports Training, a cash-method taxpayer, provides $40,000 worth of fitness training to the Sac Republic Basketball Club on credit in 2019. In 2020, the Sac Republic dissolved its business operations before paying Sam's any of the $40,000. The debt is wholly worthless in 2020.

Problem 1: What amount can Sam's deduct for bad debt in 2020?

Reference no: EM132911379

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