topic I get paid on W2. In 2019, I lost $7000 investing in a start-up in Turkey as an angel investor. Can I claim this loss in my 2019 tax return? Will I get audited? in After you file

I get paid on W2. In 2019, I lost $7000 investing in a start-up in Turkey as an angel investor. Can I claim this loss in my 2019 tax return? Will I get audited?

2782176 — Thu, 10 Dec 2020 18:41:25 GMT

I am a US citizen. I already filed my tax return for 2019. In addition to my W2 income, as a side income, there were self-employment income and expenses in my 2019 tax return (from Postames food delivery as a driver). I also invested $7000 in a small start-up in Turkey as an angel investor, but the project was shut down due to legal issues and I lost this investment. I forgot to include this $7000 as a loss in my 2019 tax return. Can I claim this loss in my 2019 tax return? Will I get audited if I file an amended 2019 tax return including this $7000 loss?

Re: I get paid on W2. In 2019, I lost $7000 investing in a start-up in Turkey as an angel investor. How do I amend my 2019 tax return and claim this loss? Will I get audited?

Critter-3 — Wed, 09 Dec 2020 19:35:54 GMT

Go to this TurboTax website to download the 2019 amend software - https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty19/

Re: I get paid on W2. In 2019, I lost $7000 investing in a start-up in Turkey as an angel investor. How do I amend my 2019 tax return and claim this loss? Will I get audited?

Anonymous — Wed, 09 Dec 2020 20:38:09 GMT

will you get audited? totally in the hands of the IRS. since the IRS only audits a small % of returns you stand a good chance of not getting audited, but no one can say for sure.