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Carrie loaned her friend 4500 to buy a used car. She had her friend sign a note with repayment terms and set a reasonable interest
Carrie loaned her friend 4500 to buy a used car. She had her friend sign a note with repayment terms and set a reasonable interest rate on the note because the 4500 was most of her saving. Her friend left town without a forwarding address and nobody has heard from her since last year. How should Carrie treat the the bad loan for tax purposes?
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