[HamiltonJay]

I doubt it. When a bank writes off a loan as bad debt, the amount of the write off is considered income to be taxed by the person who had the debt forgiven

I.e. I have a loan for 100k. Bank forgives debt... I now owe taxes on 100k I never made.

[sharkhawk]

I must have worded this wrong, because that was my point. There was no carry forward of the loss, the loss offset the “income” received from the loan write offs.