Linda loans $2,000 to her widowed mother for an operation. Lindas mother owns no property...
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Accounting
Linda loans $2,000 to her widowed mother for an operation. Lindas mother owns no property and is not employed, and her only income consists of Social Security benefits, no note is issued for the loan, no provision for interest is made, and no repayment date is mentioned. In the current year, Lindas mother dies, leaving no estate. Will Linda be able to take a deduction for a non- business bad debt?
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