- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
I would advise just claiming the loss on Schedule D, being sure to save documentation for amount claimed. The IRS would not issue any 1099-C; only you as the issuer of the loan would do that, and you are not required to.
Don't expect the borrower to declare anything on their tax return.
Here's more details on How to Report a Non-Business Bad Debt.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 19, 2024
12:07 PM