I'm still a little unclear. I understand that I would enter the Bad Business debt on Schedule C. But does it go under Other Expenses? And since I do not actually have a business, is that the only entry on that form? And do I check the "Did you materially participate" checkbox? (Remember, the purpose is only to indicate the amount I had to pay the bank as the guarantor of a C corporation that closed, leaving me with the debt.) Thanks!
