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View Full Version : Support to write off investment losses?


rlmmlm01
Feb 22, 2012, 10:06 AM
I invested in a land development opportunity 4-5 years ago... company has gone bankrupt and I still have the promisory note for 100K... can I write off this loss and what do I need to support write-off to IRS?

AtlantaTaxExpert
Feb 23, 2012, 01:20 PM
The promissary note itself should be sufficient support documentation, so write off the loss.