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Business expense paid out of pocket for biz sold in prior year
I sold my small business in 2019 (an LLC), filed the final 2019 return (Form 1065) and reported that on my 1040. Over the years I occasionally paid business expenses out of pocket and deducted those on Schedule E of my 1040. In 2020 (after the business was sold) I personally paid some final business expenses. Can I deduct those on Schedule E of my 2020 Form 1040? Thank you!
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‎April 28, 2021
7:37 PM