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How should Carrie treat the bad loan for tax purposes

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Problem - Carrie loaned her friend $4,500 to buy a used car. She had her friend sign a note with repayment terms and set a reasonable interest rate on the note because the $4,500 was most of her savings. Her friend left town without a forwarding address, and nobody Carrie knows has heard from her in the last year. How should Carrie treat the bad loan for tax purposes?

Reference no: EM132705409

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