Wisconsin § 77.585 - Return adjustments.

§ 77.585. Return adjustments.

77.585(1) (1) 77.585(1)(a) (a) In this subsection, “bad debt” means the portion of the sales price or purchase price that the seller has previously reported as taxable under this subchapter, and for which the seller has paid the tax, and that the seller may claim as a deduction under section 166 of the Internal Revenue Code. “Bad debt” does not include financing charges or interest, sales or use taxes imposed on the sales price or purchase price, uncollectible amounts on tangible personal property or items, property, or goods under s. 77.52 (1) (b) , (c) , or (d) that remain in the seller’s possession until the full sales price or purchase price is paid, expenses incurred in attempting to collect any debt, debts sold or assigned to 3rd parties for collection, and repossessed property or items. 77.585(1)(b) (b) A seller may claim as a deduction on a return under s.