How would i file information if we own a business that taxes are file seperetly but we "Invested" in, and need to report that loss?

[paigemunguia01]

We own a portion of a barbershop, and during this year, we paid out of pocket to move locations and personally bought all the items needed to do so, not on the business account because the funds were ours, is there a specific way to report this on our personal taxes that will connect it to the barbershops taxes? or do they need to be connected?

[AmyC · Accepted solution]

Yes and if qualified, the UPE will connect it all. You can submit the expenses for reimbursement from the barbershop or you may be able to claim UPE, depending on your contract.  See Can I deduct unreimbursed partnership expenses?