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In 2018, Gerald loaned Main Street Bakery $36,000 with whom he has a business relationship. In 2019, he learned that he would probably receive only

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In 2018, Gerald loaned Main Street Bakery $36,000 with whom he has a business relationship. In 2019, he learned that he would probably receive only $3,960 of the loan. In 2020, Gerald received $1,800 in final settlement of the loan. Required: Calculate Gerald's possible deductions with respect to the loan for 2018, 2019, and 2020. Deductions $ 0 2018 2019 $ 32,040 X $ 2,160 X 2020

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