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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.
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May 31, 2019
5:59 PM