?

Earl Cook, who worked as a machinist for Precision Corp.,
loaned Precision $1,000 in 2010. Cook did not own any of
Precision’s stock, and the loan was not a condition of Cook’s
employment by Precision. In 2013, Precision declared bankruptcy,
and Cook’s note receivable from Precision became
worthless. What loss can Cook claim on his 2013 income tax
return?