Steinar loan a friend 9000 to buy some stock 3 years
ago. I the current year...
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Accounting
Steinar loan a friend 9000 to buy some stock 3 yearsago. I the current year the debt became worthless. a. How much isSteinar's deduction for bad debt for this year ? Assume he has noother capital gains or losses) $----- as a -'--- bad debt. b. Whatcan Steinar do with the deduction not used this year? Theremaining$---- can carried forward as--- and deducted in futureyears , subject to ----.
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The IRS requires a detailed explanation for a baddebt deduction Your return must be accompanied by a statement that includes the following information l The nature of the debt 2 The name of the debtor and
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