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[9] Landon, a sole proprietor, made the following loans during the year. Two loans were closely related to his business operation, and the other two
[9] Landon, a sole proprietor, made the following loans during the year. Two loans were closely related to his business operation, and the other two were personal. Unrecoverable Debt Written Off Loan Landon's Books To Amount Type during the Year A $2,000 Nonbusiness $1,000 A B $1,000 Nonbusiness $1,000 C $3,000 Business $1,000 D $5,000 Business $2,000 The unpaid balance of each loan that is not recoverable has been written off. What is the total maximum tax deduction Landon can take for business and nonbusiness worthless debt for the year? A. $2,000 B. $3,000 C. $4,000 D. $5,000
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