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Washington Free Printable  for 2024 Washington Bad Debt Tax Credit Schedule B

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Bad Debt Tax Credit Schedule B
REV 40-0011-1

Reset This Form B L O C K Attached , Tax Return 1 SCHEDULE B ATTACH TO COMBINED EXCISE TAX RETURN B L O C K NAME 2 CITY, STATE, ZIP ACCOUNT ID FIRM NAME STREET ADDRESS CREDIT FOR SALES TAXES PAID ON BAD DEBTS INSTRUCTIONS 1. When to File Schedule B Complete Schedule B only if the sales tax rate at the time of sale is different from the current rate. When the rates are the same, take a bad debt deduction on the retailing B&O and retail sales tax lines. 2. Bad Debts a) Bad debt credits occur when income reported by a taxpayer is not received. Taxpayers may claim a credit for the tax reporting period on which the debt is written off as uncollectable. A bad debt tax credit is allowed only for retail sales tax which has been remitted to the department but has become uncollectible and written off for IRS purposes. b) Credits, refunds, and deductions for bad debts are based on federal standards for worthlessness under section 166 of the Internal Revenue Code. If a federal income tax return is not required to be filed, the taxpayer is eligible for a bad debt credit, refund, or deduction on the Washington tax return if the taxpayer would be eligible for the federal bad debt deduction. c) If a debt has been partially paid, a credit is allowed for only the uncollected portion of the debt. d) Reserve Method – Businesses using the Reserve Method for bad debts may take a credit for bad debts when:  The reserve method of reporting bad debts is allowed for Federal Tax purposes by the Internal Revenue Service; or  When permission is granted by the Department of Revenue. e) No credit may be claimed for bad debts written off more than four years prior to the current year. 3. To Complete This Form a) Block 1: Enter the reporting period from page one of the tax return you are about to file. b) Block 2: Enter the name and address of the business. Important: include your Account ID. c) Sales transactions should be grouped by date of sale and then sorted by location code (see the location code list online at dor.wa.gov. Enter “location codes” into the search box of the main menu.). d) Column 1: Enter the sale month and year as numbers (e.g. November 2009 = 11/09). e) Column 2: Enter the location code of the sale. If sales were made during this month in multiple locations, use a different line for each location code. f) Column 3: Enter the taxable value of sales claimed as bad debts for each location code. g) Column 6: Enter the total amount of state and local sales taxes paid to the state [on the bad debts listed] for each location code. h) Columns 4 & 5: For each tax entry in column 6, break the tax amount into the state and local sales tax portions. Include any King County Food & Beverage and RTA, if applicable. i) If you need more space, use the back of this sheet. You may photocopy the form for more sheets. Write your Tax Registration Number on each page. j) Total all column 6 entries. Enter this amount in the “Total” block on this form and on the “BAD DEBT TAX CREDIT” line on the Combined Excise Tax Return. k) Attach Schedule B behind the Combined Excise Tax Return. Column 1 Column 2 Date Of Sale (MM/YY) 4 Digit Location Code Column 3 Value of Sale Written Off Column 4 State Sales Tax Claimed Column 5 Column 6 Local Sales Tax Claimed Total State And Local Taxes Claimed For Department Use Only For Department Use Only $0.00 $0.00 $0.00 $0.00 $0.00 SUB-TOTAL $0.00 Signature Phone REV 40 0011-1 (6/25/19) COMBINED TOTAL [801] All sales taxes claimed: 0.00 Post to BAD DEBT CREDIT line on Combined Excise Tax Return. Page B L O C K of Attached To , Tax Return 1 SCHEDULE B ATTACH TO COMBINED EXCISE TAX RETURN Column 1 Column 2 Date Of Sale (MM/YY) 4 Digit Location Code Column 3 Value of Sale Written Off B L O C K NAME 2 CITY, STATE, ZIP ACCOUNT ID FIRM NAME STREET ADDRESS Column 4 State Sales Tax Claimed Column 5 Column 6 Local Sales Tax Claimed Total State And Local Taxes Claimed SUB-TOTAL For Department Use Only For Department Use Only $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 For tax assistance or to inquire about the availability of this document in an alternate format, please call 360-705-6705. Teletype (TTY) users may use the Washington State Relay Service by calling 711. REV 40 0011-(6/25/19) Print This Form
Extracted from PDF file 2023-washington-rev-40-0011-1.pdf, last modified August 2001

More about the Washington REV 40-0011-1 Other Tax Credit TY 2023

Complete Schedule B only if the sales tax rate at the time of sale is different from the current rate. When the rates are the same, take a bad debt deduction on the retailing B&O and retail sales tax lines.

We last updated the Bad Debt Tax Credit Schedule B in February 2024, so this is the latest version of REV 40-0011-1, fully updated for tax year 2023. You can download or print current or past-year PDFs of REV 40-0011-1 directly from TaxFormFinder. You can print other Washington tax forms here.

Related Washington Other Forms:

TaxFormFinder has an additional four Washington income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Washington REV 40-0011-1.

Form Code Form Name
REV 40-0014e Multiple Activities Tax Credit Schedule C
REV 40-2412 Consumer Use Tax Return

Download all WA tax forms View all 5 Washington Income Tax Forms


Form Sources:

Washington usually releases forms for the current tax year between January and April. We last updated Washington REV 40-0011-1 from the Department of Revenue in February 2024.

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REV 40-0011-1 is a Washington Other form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

Historical Past-Year Versions of Washington REV 40-0011-1

We have a total of five past-year versions of REV 40-0011-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 REV 40-0011-1

Schedule B Credit for Sales Taxes Paid on Bad Debts


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