Re: Need help with a loan to a friend
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you can right off the loss on your taxes so that will save you something
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The best part about this is that technically your friend then has to pay taxes on the 2K he received as it's now income for him. (might be considered a gift, but i'm not sure). He probably won't pay, but then you can feel good knowing that he's committing tax fraud.
Other than working out a payment plan, there's probably not much you can do...
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