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Can I deduct from my personal taxes money loaned to daughter's startup daycare company as investment loss? Company closed due to COVID and all money loaned was lost.
Some money was loaned directly to the LLC.
Some money was loaned to my daughter who then used it for the LLC.
Money was used for initial build out and equipment.
Company was never profitable and closed when parents removed kids due to COVID.
Some money was loaned to my daughter who then used it for the LLC.
Money was used for initial build out and equipment.
Company was never profitable and closed when parents removed kids due to COVID.
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‎November 24, 2020
12:56 PM