Log in

View Full Version : Can you claim a loss on overseas investment

Mixx
Jan 3, 2013, 05:45 AM
I opened a business in South America and shut it down. Can I claim my losses on my US tax return?
AtlantaTaxExpert
Jan 3, 2013, 06:35 AM
Yes, if you are filing as a U.S. citizen/resident and filing Form 1040.

If you must claim all world-wide income, the converse of claiming all world-wide losses also applies.