A Taxpayer Wishes to Take a Deduction for a Worthless

Multiple Choice

A taxpayer wishes to take a deduction for a worthless debt.Without proper documentation,the taxpayer faces the risk that the IRS will assert that

A) the debt is not yet worthless,disallowing the deduction.
B) the debt became worthless in an earlier period,and the statute of limitations prevents the taxpayer from amending that earlier return.
C) both of the above.
D) none of the above.