I need to know how we should book capital loss for franchise fees lost. before business ever started.

mustafasan — Thu, 06 Jun 2019 09:38:33 GMT

I paid franchisee fees and the business never started. How do i claim this loss on my tax return.

You can deduct this as a capital loss, in the Investment...

IsabellaG — Thu, 06 Jun 2019 09:38:35 GMT

You can deduct this as a capital loss, in the Investment Income category under Stocks, Mutual Funds, Bonds, Other. On the screen Choose the type of investment you sold, select Everything Else. Then proceed to enter the information about your franchise fees.

The costs you had in your attempt to acquire or begin a specific business are capital expenses and you can them as a capital loss.

topic I need to know how we should book capital loss for franchise fees lost. before business ever started. in Business & farm

I need to know how we should book capital loss for franchise fees lost. before business ever started.

You can deduct this as a capital loss, in the Investment...