§ 166. Bad debts
(a)
General rule
(b)
Amount of deduction
For purposes of subsection (a), the basis for determining the amount of the deduction for any bad debt shall be the adjusted basis provided in section
1011 for determining the loss from the sale or other disposition of property.
(d)
Nonbusiness debts
(f)
Cross references
(1)
For disallowance of deduction for worthlessness of debts owed by political parties and similar organizations, see section
271.