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    rlmmlm01's Avatar
    rlmmlm01 Posts: 1, Reputation: 1
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    #1

    Feb 22, 2012, 10:06 AM
    Support to write off investment losses?
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

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