Failed business deduction

[madomke22]

Hi - I acquired a very small business this year (2024) and it is looking like it will not survive the year. I spent about $8,000 on the acquisition and related expenses. Can I deduct the entire amount when I file my 2024 return next year?

[tagteam]

https://ttlc.intuit.com/community/business-taxes/discussion/startup-costs-for-failed-business-over-s...