In 2013 Gerald loaned Main Street Bakery $55,000. In 2014, he learned that he would probably receive

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In 2013 Gerald loaned Main Street Bakery $55,000. In 2014, he learned that he would probably receive only $6,400 of the loan. In 2015 Gerald received $3,000 in final settlement of the loan. Calculate Gerald's possible deductions with respect to the loan for 2013, 2014, and 2015.
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Fundamentals Of Taxation 2016

ISBN: 9781259812774

9th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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