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dmchand2
New Member

How do I claim expenses for a business that is closed? No K1 as last return was filed in 2016.

I am paying off debt (so interest and fees expenses, internet, license, and legal fees) involved. 

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1 Reply
AmandaR1
New Member

How do I claim expenses for a business that is closed? No K1 as last return was filed in 2016.

You can't claim expenses for a business that is closed. Debt is typically never deductible because the expenses were deducted in the business when you paid them.

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