Can a taxpayer deduct a reserve for unpaid interest on a loan if the interest appears not

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Can a taxpayer deduct a reserve for unpaid interest on a loan if the interest appears not to be collectible? Explain. How does the treatment of unpaid interest compare with the treatment of the loan principal when its repayment is in doubt?

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Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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Question Posted: Dec 19, 2015 04:10 AM

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Can a taxpayer deduct a reserve for unpaid interest on a loan if the interest appears not

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Using the same rules for determining income from business it can be asc...View the full answer

Canadian Income Taxation Planning And Decision Making

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