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Business, 23.03.2020 19:32 crysderria

Last year, Abby loaned her friend, Pat, $10,000. Although Pat had signed a note payable that contained interest payments and a maturity date, the loan had not been repaid this year when Pat died insolvent. For this year, assuming that the loan was bona fide, Abby should account for nonpayment of the loan as a(n) .A) long-term capital loss
B) short-term capital loss
C) itemized deduction
D) ordinary loss

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Last year, Abby loaned her friend, Pat, $10,000. Although Pat had signed a note payable that contain...
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