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I started a small business that failed can I write off what I spent on products I purchased to start the business?

 
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JotikaT2
Employee Tax Expert

I started a small business that failed can I write off what I spent on products I purchased to start the business?

Assuming your business was started with the intent of making a profit, then any operating expenses incurred would be considered a deductible business expense.  Please see what can I write off as a business expense for more details.

 

 

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