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Financial Planning / Tax Strategies


Subject:  Treatment of Non-business Bad Debt Date:  2/21/2002  9:50 AM
Author:  CheetahChrome Number:  59174 of 124765

How is a non-business bad debt treated? From my quick reading, it seems as if it is treated just like a short-term capital loss (i.e., can write off against $3,00 of ordinary income, can carry forward remainder of loss indefinitely).

Is this correct?

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