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defaulted loan to 501c
We loaned a 501c3 $100,000. We have a payment schedule and promissory note. He is defaulting. Can we deduct the amount that has been due and not paid on our taxes?
March 17, 2020
3:14 PM
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Deductions & credits
Yes, you can deduct this non-business bad tax under certain conditions.
Please read this TurboTax article for more information.
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March 17, 2020
3:34 PM
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