Question

Steinar loaned a friend $9,500 to buy some stock 3 years ago. In the current year the debt became worthless.
a. How much is Steinar’s deduction for the bad debt for this year? (Assume he has no other capital gains or losses.) $ _________________________________________________________
b. What can Steinar do with the deduction not used this year?
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  • CreatedJuly 16, 2015
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