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Get your taxes done using TurboTax
I believe you mean you received a check in 2023 as partial payment on a lost investment. Since you mention you reported a loss in that year, I assume you deducted your cost in the investment to generate the loss you reported on your tax return. If so, you already deducted the cost of your investment so the money you received in 2024 is taxable. There is nothing more you can deduct from the $75 since you already deducted your full cost in 2023.
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March 26, 2025
10:57 AM