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sapling.com
How to Claim a Bad Debt on a Personal Tax Return | Sapling
If you loan money to a friend or family member and they do not pay it back, then you may be able to claim a tax deduction for it as a short-term capital loss. You must be able to show that loan was genuine loan and not a gift, meaning you made sincere efforts to get the money back.
Oct 11, 2016
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