PDA

View Full Version : Business expense deduction


chiri
Feb 28, 2007, 09:43 AM
There are genuine business expenses, and business could not be started due to legal problems. The business is under single member LLC, and so, schedule C needs to be attached with 1040. Can expenses under this circumstance be claimed as Schedule C loss ? Can they be written off as investment loss under Schedule D?

Thank you in advance for answering.

AtlantaTaxExpert
Mar 1, 2007, 07:31 AM
You can claim the loss on Schedule C.