topic I made a personal loan to a business that defaulted in 2016 in Business & farm

I made a personal loan to a business that defaulted in 2016

oscarss — Thu, 06 Jun 2019 09:42:04 GMT

I made personal loan to a business. They paid for several years and in 2016 they defaulted and closed their business. Where can I deduct this loss on my personal return.

You may be able to deduct this loss as a capital loss on...

MinhT — Thu, 06 Jun 2019 09:42:06 GMT

You may be able to deduct this loss as a capital loss on Schedule D if you have proper documentation.

Please read this article for more information:

http://www.creditcards.com/credit-card-news/loan-bad-debt-deduction-friends-family-1282.php