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Author: ophel999 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Bad Debt or Non-business loss Date: 8/29/2001 4:22 PM
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Money owed to me 10 yrs. ago $10K and remain unpaid inspite of collection efforts and litigation. A lien on his property was attached to his debt. Recently he wanted to sell the property and offered to settle his debt but at a much lesser amount.I refused payment unless paid in full. Nothing happened. Can I claim the $10K as nonbusiness loss this year? If Yes, and later in another year the debtor paid me in full, I presume I will have to declare it as other income in the year he/she pays me. Thanks for your response.
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