Anonymous
Not applicable

I had a $250k loss from a defaulted promissory note. I also had a $100k long term capital gain from a home sale. Can I offset this capital gain with this loss?

The defaulted note was from a 7 year old court ordered loan to my ex-wife so she could buy me out of a business we owned while married.  She defaulted then filed bankruptcy after I started legal collection efforts.  The capital gain is from the sale of a rental property I owned for 10 years.