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posted Apr 15, 2025 2:58:59 PM

Where on an LLC's return can i put a loss of a business promissory note that was not fulfilled

Our LLC had a promissory note from another LLC to either give us shares or pay us back the cash. They went out of business. Where can I claim this loss?

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1 Replies
Expert Alumni
Apr 16, 2025 12:06:41 PM

That would be a business bad debt. You enter that on line 12 of Form 1065, page 1.