How can I claim an ABIL or bad debt in Canada?

[srodhey]

I have a promissory note (loan) that remains unpaid and will never be paid from the debtor who lives in the USA. The loan had two options; 1. payback by assigning interest (shares) in a US based business or 2. payback in monthly payments.

Also, what paperwork or proof do I need in order to claim this as an ABIL or bad debt in Canada?

[TurboTaxBrenda1]

Yes, simply deduct bad debt on line 8590. Keep all your receipts in case the CRA asks for them later.