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?

posted

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

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

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