TP got into some type of internet business. They sold him all types of coaching, help, building websites, and he fell hook line and sinker. Never has received a dime. 1st year(2014) invested almost $20,000. I'm considering amortizing start up costs this year, plus a few expenses. Then in 2015, if no money comes in, (most likely not) can I close the business and deduct the rest of the start up costs? Has anyone else dealt with this type of business. He's tried to contact his so called rep, but can never get a hold of anyone, and they don't return his calls. He knows he screwed up.
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