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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.