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digioj
New Member

Can I deduct money that I have invested in a business that my son is trying to start?

 
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Vanessa
Level 3

Can I deduct money that I have invested in a business that my son is trying to start?

No, investments are not deductible until you sell your investment then it is deducted from your selling price to arrive at your profit. 

Also, if you are not getting a share of the business for the investment, this is likely a gift which is also not deductible. 

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1 Reply
Vanessa
Level 3

Can I deduct money that I have invested in a business that my son is trying to start?

No, investments are not deductible until you sell your investment then it is deducted from your selling price to arrive at your profit. 

Also, if you are not getting a share of the business for the investment, this is likely a gift which is also not deductible. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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