Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
As a partner of *****************., I filed 1099 to IRS in
Hi, As a partner of *****************., I filed 1099 to IRS in 2015 and in this year, the company has closed.In 2017, I received a letter from IRS letting the company that has to pay penalities of $32… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
2,248 satisfied customers
IRS Tax Question: Please see the attachment. I don't know
IRS Tax Question: Please see the attachment. I don't know whether this bad debt should be a capital loss or ordinary loss based on https://www.irs.gov/taxtopics/tc453. Please provide your opinion and … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,818 satisfied customers
I have a question about a company Debt Pilot and me trying
I have a question about a company Debt Pilot and me trying to get rid of 16,000.00 debt incurred thru scam. One of the scams was that their coirporate lawyers could file federally as business loss and… read more
PDtax
PDtax
Owner
Master's Degree
4,344 satisfied customers
In 2015 I was approached by a restaurant owner to invest in
In 2015 I was approached by a restaurant owner to invest in his business. He closed that restaurant and I found a new location. I invested 50,000 . I had a lawyer make a contract which stated I invest… read more
PDtax
PDtax
Owner
Master's Degree
4,344 satisfied customers
I have a question re Writing off a business loan....that can
I have a question re Writing off a business loan....that can be written off against my business income rather than just $3000 tax loss per year on my personal income tax filing. case: In 2009 I made a… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,944 satisfied customers
WE had a business an S corp. The business fell apart and my
WE had a business an S corp. The business fell apart and my sister who was a 40% shareholder walked away leaving me to close down the business. I paid what debt I could and most diapppeared but we sti… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,652 satisfied customers
Taxpayer is a partner in a partnership that has gone bankrupt.
Taxpayer is a partner in a partnership that has gone bankrupt. In addition, taxpayer loaned money to the partnership on a note. What is the tax treatment to the taxpayer on the worthless partnership i… read more
taxmanrog
taxmanrog
Master's Degree
1,427 satisfied customers
I have a c corporation which I on 100% of the stock. The C
I have a c corporation which I on 100% of the stock. The C corporation went broke I was required to pay loans that I personally guaranteed. I and my wife worked in the business part time without pay a… read more
PDtax
PDtax
Owner
Master's Degree
4,344 satisfied customers
I made a passive investment to a company in December of 2008
I made a passive investment to a company in December of 2008 with the promise for quarterly interest payments for 2 years with an eventual continuation of 1 year. I have a Promissory Note for the inve… read more
PDtax
PDtax
Owner
Master's Degree
4,344 satisfied customers
I have a incorporated company that has gone out of business
I have a incorporated company that has gone out of business at the beginning of 2011. The company owes an amount of money in excess of $10000. I am paying that money back out of my personal funds. Is … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,944 satisfied customers
My exhusband file bankruptcy. He owed me $10,000.00 from the
My exhusband file bankruptcy. He owed me $10,000.00 from the sale of a house. Can I claim that $10,000.00 on my income taxes and if so where?… read more
Tax.appeal.168
Tax.appeal.168
Principal
5,045 satisfied customers
We had a personal loan to a family (son) business that went
We had a personal loan to a family (son) business that went bankrupt. The $26,000 loan to them was not repaid due to their bankruptcy. The name of their business was Laurie's Hallmark,4053 State Road … read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
I have a $700,00 judgement against the builder of our home
I have a $700,00 judgement against the builder of our home that recently filed bankruptcy. We'd agreed that I would buy the land and sell the homes since I was a realtor and he would build the homes. … read more
socrateaser
socrateaser
1,458 satisfied customers
If I make payments to a bank to settle a personal guarantee
If I make payments to a bank to settle a personal guarantee of a loan to an LLC which I own a % of, is this a capital loss or a business bad debt write off? I also made loans to these companies which … read more
Brenda Guy
Brenda Guy
Certified Public Accountant
Master's Degree
151 satisfied customers
I want to declare an ordinary loss from a loan made to a defunct
I want to declare an ordinary loss from a loan made to a defunct company. Where do I enter this on my form 1040?… read more
William Ellis, CPA
William Ellis, CPA
Master's Degree
241 satisfied customers
My question is how to file in my taxes, a non-business bad
My question is how to file in my taxes, a "non-business bad debt". PLEASE do not include in your answer references to business-related debt. I know what the IRS website says, to file 1040 Schedule D P… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,278 satisfied customers
I bought a package for services for $10,000.00 and charged
I bought a package for services for $10,000.00 and charged it on a charge card. The company declared file for bankruptcy before I ever used any of their services, but I am still paying off the debt. C… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,944 satisfied customers
I recieved a loan last year from a friend. I am going to have
I recieved a loan last year from a friend. I am going to have file bankruptsy because of small bus failure. This friend knows my situation and is even loaning me money again to file this action. I am … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,944 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x