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Joe Biden Tax Relief 2020

Veneia Michelle
Level 1

A client told me that she saw a commercial about a tax relief fund for those who know someone who owes them money and they know they won't get it back they can write off up to $3,000.  I've never heard of this, nor can find any information as such.  Has anyone heard of this?  


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3 Replies 3
Level 15
Level 15
Level 15

$3000 is the amount of capital losses one can take per year.

So if you invested money that you won't ever get back, that could be a capital loss that you could deduct up to $3000 per year until its used up.

Its not new nor does it have anything to do with Biden.

Level 15

"nor can find any information as such"



"Level Up" is a gaming function, not a real life function.