Bad investment that is lost

[erin-leigh27]

My husband and I invested $32,000 for a share in a business and then the individual never gave any paperwork for the investment.  The only thing I have is the cashiers check I provided that stated in the memo business investment.  Is there a way I can write off this bad debt that I am paying taxes on but have no stake in the business that we were supposedly investing in?

[RichardK]

You report your unsuccessful business investment as a capital loss, click here for instructions on entering in Turbotax.