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i was co owner in a business with my husband. When we went

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through divorce; he got business..i...
i was co owner in a business with my husband. When we went through divorce; he got business..i paid 50000. Can i show this as a deduction or loss on tax return
Submitted: 6 years ago.Category: Tax
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Answered in 2 minutes by:
7/3/2011
Tax Professional: Gerri A Harrison CFP EA, Enrolled Agent replied 6 years ago
Gerri A Harrison CFP EA
Gerri A Harrison CFP EA, Enrolled Agent
Category: Tax
Satisfied Customers: 252
Experience: 27 years of preparing income tax returns - both personal and small business
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Gerri A Harrison CFP :

Was this a partnership or corporation - what type of entity was it?

Gerri A Harrison CFP :

Sorry just realized, Australia, cannot answer for that

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Tax Professional: Tax.appeal.168, Tax Accountant replied 6 years ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 3,854
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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Hello and welcome to Just Answer!!

As the previous expert asked...what type of entity was this, partnership, corporation...? I am versed in Australia tax, so I may be able to answer the question for you. Thank you.
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Customer reply replied 6 years ago
Thank you. Ticorp proprietary limited was a trustee for brown family trust trading as splashes boutique. Jenny Brown as Trustee for the xitec trust trading as ticorp p/l was the trustee for xitec before I changed it by deed as an interim step to get separated.
Tax Professional: Tax.appeal.168, Tax Accountant replied 6 years ago
Thank you for providing the info. So that I can provide you with an accurate answer, please allow me to research the matter further. I will get back to you soon. Thank you.
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Customer reply replied 6 years ago
Yes thank you
Tax Professional: Tax.appeal.168, Tax Accountant replied 6 years ago
Thank you. Thus far, I have not found a loophole. I will continue checking, but this might be a question for a Tax Attorney. They would know more about any available loopholes. I will check a bit further to see what I come up with.
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Tax Professional: Tax.appeal.168, Tax Accountant replied 6 years ago
Hello,

Sorry, I am unable to find a loophole regarding your matter. This question will be best presented to a Tax Attorney. Sorry that I could not help.
Tax.appeal.168
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