Private entitled to crappy obligations deduction for losings into financing to help you company
In the Owens, T.C. Memo. 2017 – 157 , the newest Taxation Judge kept one one is entitled to a beneficial crappy debt deduction to have fund he made to a business one to subsequently ran bankrupt because the (1) the individual is actually mixed up in business from financing currency during many years concerned; (2) the brand new financing was basically bona fidedebt (even with occasionally are designed to contain the stressed company afloat); and (3) your debt turned worthless around claimed, whilst debtor didn’t file for bankruptcy until the after the seasons. (suite…)