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Lost Commission Income

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R

RASCAL2851

Guest
What is the name of your state? connecticut. mortgage broker business. mortgage application was fully cleared, scheduled to close. applicant backs out at the last minute for reasons not due to the mortgage application, requirements, etc.
am i allowed to claim any kind of loss, damage etc for the lost income for the time and effort put into the transaction??
 


abezon

Senior Member
No. You can't claim "lost" income unless you accrued the income and paid taxes on it in a prior year. You can't lost what you never received. However, you can still claim your expenses in attemptiing to generate the commission income.
 

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