jrm0rgan
Returning Member

bad debt

I loaned my business money.  I have promissary notes signed by myself and my business partner (we had an LLC)

We had to close in 2020 due to Covid.  There was no money to pay me back.  Can I deduct the loans on my taxes?  I also have a $90,000 capitol account of which is a loss.  Can I write this off?