Earnest Money Deposit Forfeiture Considered Revenue Loss, Deductible in Profit and Loss Account, Not a Capital Loss.

Earnest Money Deposit Forfeiture Considered Revenue Loss, Deductible in Profit and Loss Account, Not a Capital Loss. https://www.taxtmi.com/highlights?id=14649 Forfeiture of deposit to be treated as revenue loss, allowable for deduction or capital loss not allowed in the profit & loss account - AEPC had forfeited its Earnest Money Deposit - held as revenue in nature - AT en-us Sat, 21 Sep 2013 13:04:18 +0530 Sat, 21 Sep 2013 13:04:18 +0530 TaxTMI RSS Generator Earnest Money Deposit Forfeiture Considered Revenue Loss, Deductible in Profit and Loss Account, Not a Capital Loss. https://www.taxtmi.com/highlights?id=14649 Forfeiture of deposit to be treated as revenue loss, allowable for deduction or capital loss not allowed in the profit & loss account - AEPC had forfeited its Earnest Money Deposit - held as revenue in nature - AT Highlights Income Tax Sat, 21 Sep 2013 13:04:18 +0530 https://www.taxtmi.com/highlights?id=14649