Are there any exceptions to this other than Covid? Client lost his job in Dec 2019 and loan was in good standing at that time. He could not repay anything in 2020 due to the layoff (unrelated to Covid - market downturn in his industry) and a very large home expense (had to install a brand new pool due to contractor negligence on separate repair and insurance wouldn't accept the claim but pool area was a safety issue). Also trying to see if any portion of the pool expense is deductible given the situation. He was in default then on the loan and received a 1099-R.
