Into the Owens, T.C. Memo. 2017 – 157 , the newest Income tax Court held you to definitely an individual is actually permitted a good crappy financial obligation deduction having funds he made to a corporate you to subsequently went bankrupt as (1) the person was involved in the business out of credit currency while in the recent years in question; (2) brand new loans was indeed bona fidedebt (even with oftentimes are made to contain the troubled business afloat); and (3) your debt became worthless in said, whilst borrower don’t seek bankruptcy relief until the pursuing the season.

Issues

Owens’s lending providers: William Owens was most shareholder out of Owens Monetary Category Inc. (OFG), a commercial mortgage lender become of the their dad, along with served as OFG’s president to own 2 decades. (más…)