topic Can I write off a worthless note held by an oil and gas LLC, operating at a loss and who announced in writing in 2017 that monies would not be repaid to note holders? in Business & farm https://ttlc.intuit.com/community/business-taxes/discussion/can-i-write-off-a-worthless-note-held-by-an-oil-and-gas-llc-operating-at-a-loss-and-who-announced-in/01/714824#M28720 Note was purchased in 2009 and was to have matured in 2016. The LLC defaulted years ago when it stopped paying interest. Thu, 06 Jun 2019 14:32:41 GMT Champions-gal 2019-06-06T14:32:41Z Can I write off a worthless note held by an oil and gas LLC, operating at a loss and who announced in writing in 2017 that monies would not be repaid to note holders? https://ttlc.intuit.com/community/business-taxes/discussion/can-i-write-off-a-worthless-note-held-by-an-oil-and-gas-llc-operating-at-a-loss-and-who-announced-in/01/714824#M28720 Note was purchased in 2009 and was to have matured in 2016. The LLC defaulted years ago when it stopped paying interest. Thu, 06 Jun 2019 14:32:41 GMT https://ttlc.intuit.com/community/business-taxes/discussion/can-i-write-off-a-worthless-note-held-by-an-oil-and-gas-llc-operating-at-a-loss-and-who-announced-in/01/714824#M28720 Champions-gal 2019-06-06T14:32:41Z Yes, if you have written confirmation that the debt is wo... https://ttlc.intuit.com/community/business-taxes/discussion/yes-if-you-have-written-confirmation-that-the-debt-is-wo/01/714828#M28721 <P>Yes, if you have written confirmation that the debt is worthless, you should be able to write off the note at a loss.</P> Thu, 06 Jun 2019 14:32:43 GMT https://ttlc.intuit.com/community/business-taxes/discussion/yes-if-you-have-written-confirmation-that-the-debt-is-wo/01/714828#M28721 PatriciaV 2019-06-06T14:32:43Z