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

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.

posted

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

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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"

I built a new home in 2023 an have construction loan interest. I moved into the new house but I am updating the old home and still own it. Can I deduct interest for both?

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

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

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

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

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

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

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

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

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