Bad debt losses from nonbusiness debts are deductible only as short-term capital losses regardless of when the debt occurred.

Name: Bad debt losses from nonbusiness debts are deductible only as short-term capital losses regardless of when the debt occurred.
Brand: Quizplus
Rating: 4.8 (51 reviews)

Question

Quizplus · Accepted Answer

According to IRS rules, bad debt losses from nonbusiness debts are considered short-term capital losses and are deductible only as such, regardless of when the debt occurred.

Bad Debt Losses from Nonbusiness Debts Are Deductible Only as Short-Term