nonbusiness bad debt
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 373 U.S. 193 - Whipple v. Commissioner · 1963Most cited · 937 citing opinions
Congress was designed to make full deductibility of a bad debt turn upon its proximate connection with activities which the tax laws recognized as a trade or business, a concept which falls far short of reaching every income or profit making activity