Solved: I loaned money to a friend in 2017 that never paid me back. Can i deduct this?
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rogaljb
New Member

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

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.

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MinhT
Expert Alumni

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

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

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2 Replies
MinhT
Expert Alumni

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

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

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

rogaljb
New Member

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

Thank You MinhT!
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