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Updated over 10 years ago,
Damages write-offs
Lets say you have a tenant evicted or lease termination and they have $2,000 in damages charges beyond their security deposit. If one gets a judgement against the tenant for that amount can I forgive that debt and issue them a 1099 for forgiving that debt and then write it off on my taxes? This seems like it would be the most beneficial path forward when a past tenant is uncollectable.
Thanks in advance