john1234567
Junior Member
What is the name of your state? CA
Hi
A guy I loaned money to about 6 years ago has file bankruptcy and I have been notified of the "Discharge of Debtor".
The orginal loan was for 10K, but at the time of bankruptcy he owed me about 17K.
I was not given any information on how much debt was listed on the bankruptcy procedings.
Will I be receiving some sort of 1099 type tax paperwork ?
I assume I can write-off the loan on my taxes but how much ?
And does it have to be off set by Capital Gains or anything like that ?
Thanks
John.
Hi
A guy I loaned money to about 6 years ago has file bankruptcy and I have been notified of the "Discharge of Debtor".
The orginal loan was for 10K, but at the time of bankruptcy he owed me about 17K.
I was not given any information on how much debt was listed on the bankruptcy procedings.
Will I be receiving some sort of 1099 type tax paperwork ?
I assume I can write-off the loan on my taxes but how much ?
And does it have to be off set by Capital Gains or anything like that ?
Thanks
John.