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How do I report a loss from a convertible note purchase in a private corporation?
Four years ago, I invested in a private corp. via a convertible note. I paid taxes on interest income from 'deemed' interest the first two years. The third years it converted into equity. This year it was acquired for the assumption of debt and all shareholders were wiped out. How do I report this - I assume part of it will be a capital loss and part a recapture of ordinary loss from the interest income.
posted
November 15, 2024
12:33 PM
last updated
November 15, 2024
12:33 PM
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