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Defunct LLC expenses
Here's the situation: I had an LLC which was treated as a sole proprietorship for tax purposes. The business ceased operations in 2015, but I was behind on rental payments. I declared personal bankruptcy some years later, and some of the bankruptcy payments go towards paying off the outstanding rent which was incurred while the business was still operating. Can I claim the amount payed towards rent (via bankruptcy) as a business expense on my current taxes?
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March 31, 2023
7:27 PM