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J
juliejewels66
Level 1
April 14, 2022
Question

INVESTMENT INTO GROW OPERATION

  • April 14, 2022
  • 1 reply
  • 5 views

CLIENT INVESTED 42,000 IN A GROW OPERATION THAT  LOST PERMITS GOES  OUT OF BUSINESS CAN WE CLAIM THIS LOSS? IF SO, HOW? 

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1 reply

T
TaxGuyBill
Level 15
April 14, 2022

You first need to find out what "invested" means for your client.

  • Did the purchase a Partnership Interest in a Partnership?
  • Did they buy shares in a Corporation?
  • Did they LOAN money to the business?
  • Something else?
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