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How to claim a bad loan to a business?
For the past 5 years, I have loaned money to a startup I founded, as a way of bootstrapping the company. The company didn't work out, and ceased operations in 2020. I believe I am able to deduct the amount of those loans (minus the remaining cash in the company's bank accounts, which was refunded to me as partial repayment of the loans), but I can't figure out how/where to do that. Any advice? Thanks!
‎January 14, 2021
1:50 PM