Finance Questions? Ask a Financial Expert for Answers ASAP
Thank you, XXXXX XXXXX I were a part owner of the business would it be fully deductible?
And is there a reason you've mentioned that if it's classified as a bad loan that only $3,000 would be deductible per year?
$3,000 ($1,500 if you are married and file a separate return), or
Your total net loss as shown on line 16 of Schedule D.
Thank you, XXXXX XXXXX clarification. What proof do I need that I was part owner?