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If we loaned someone money as an investment and they took bankruptcy can we file that money as a loss

 
1 Reply
MinhT
Expert Alumni

If we loaned someone money as an investment and they took bankruptcy can we file that money as a loss

You could claim the loss as a capital loss.

Please read this article for more information:

http://www.creditcards.com/credit-card-news/loan-bad-debt-deduction-friends-family-1282.php


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