Recent Posts • Latest Topics • Unanswered Questions

Last year, Abby loaned Pat $10,000 as a gesture of their friendship. Although Pat had signed a note ...

Augustus1

wrote...

Go to Answer

Posts: 1894

Rep:

7 years ago

Last year, Abby loaned Pat $10,000 as a gesture of their friendship. Although Pat had signed a note ...

Last year, Abby loaned Pat $10,000 as a gesture of their friendship. Although Pat had signed a note payable that contained interest payments and a maturity date, the loan had not been repaid this year when Pat died insolvent. For this year, assuming that the loan was bona fide, Abby should account for nonpayment of the loan as a(n)
A) itemized deduction.
B) ordinary loss.
C) long-term capital loss.
D) short-term capital loss.

Textbook

Prentice Hall's Federal Taxation: 2011: Individuals

Edition: 14^th

Authors: Pope, Anderson, Kramer

Read 164 times

2 Replies

Report

We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer

Replies

Answer verified by a subject expert

MsLippy

wrote...

Related Topics

Augustus1 Author

wrote...

7 years ago

You're a saint, honestly

Thank you

Report

We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1520 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Related Images

323

365

388

Your Opinion

Previous poll results: Do you believe in global warming?

Strange Ingredients Lurking in Doritos Chips

It's sore throat season, why does my mucus have red spots?

Bonobos, Chimpanzees, and the 98% DNA Link

Courses by Biology Forums

The Toxic Skin and Fungi Defense

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.