I loaned money to a friend in 2017 that never paid me back. Can i deduct this?

rogaljb · ‎June 1, 2019

I loaned a friend over $7000 in 2017, they were to be able to pay it back in three months. As we can see they didn't. Now, they always have a reason and I do not think they will.

MinhT · ‎June 1, 2019

No, unfortunately, you cannot deduct an unpaid personal loan.

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MinhT · ‎June 1, 2019

No, unfortunately, you cannot deduct an unpaid personal loan.

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rogaljb · ‎June 1, 2019

Thank You MinhT!

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I loaned money to a friend in 2017 that never paid me back. Can i deduct this?