Melaney has had a bad year with her investments. She lent a friend $8,000; the...
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Melaney has had a bad year with her investments. She lent a friend $8,000; the friend did not repay the loan when it was due and then declared bankruptcy. The loan is totally uncollectible. Melaney also was notified by her broker that the Oak corporate bonds she owned became worthless on October 13, 2013. She had purchased the bonds for $22,000 on November 10, 2012. Melaney also had a $60,000 loss on the disposition of 1244 corporate stock that she purchased several years ago. Melaney is single.
a. What are the nature and amount of Melaney
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