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    chiri's Avatar
    chiri Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Feb 28, 2007, 09:43 AM
    Business expense deduction
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

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