47. PR.03-18 Problem 3-18 Bad Debts (LO 3.10) Steinar loaned a friend $9,500 to buy some stock 3 years aqo. In the current year the debt became worthless. a. How much is Steinar's deduction for the...

Extracted text: 47. PR.03-18 Problem 3-18 Bad Debts (LO 3.10) Steinar loaned a friend $9,500 to buy some stock 3 years aqo. In the current year the debt became worthless. a. How much is Steinar's deduction for the bad debt for this year? (Assume he has no other capital gains or losses.) bad debt. $ as a b. What can Steinar do with the deduction not used this year? and deducted in future years, subject to can be carried forward as a The remaining $