Loan repayment is deducted from your federal tax refund and reduces the subsequent refund amount paid directly to you. If approved, your Refund Advance will be deposited into your Credit Karma Money™ Spend (
Someone wise once said that you should never lend money to anyone if you expect to be paid back. The Internal Revenue Service (IRS) is sympathetic toward those who lend money—expecting repayment—but subsequently get burned. You can write off bad debts
Is it a debt or a gift? The debt must have been a bona fide loan—you gave the money with every expectation of being repaid. If you charged interest, and the borrower signed a promissory note, this provides a good indication that you expected to get your money back. Otherwise, th...