An LLC owed me $75K in a settlement. Only received $25K. They ran out of funds and likely will file for bankruptcy. How do I file for this loss in my 2017 taxes?

[1polyphd]

An LLC owed me $75K in a legal settlement to be all paid in 2017. They ran out of cash and likely to file for bankruptcy. I only received $25K in 2017. 

[KrisD · Accepted solution]

You don't report a loss. You can't report a loss for something you never had.