Can an individual take a loss on his/her investment in partnership?

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  • kpangelinan
    Senior Member
    • Sep 2007
    • 511
    #1

    Can an individual take a loss on his/her investment in partnership?

    Can an individual take a loss on their personal returns for losing their investment in a partnership they were part of? This individual basically invested cash and the company closed. Thanks,
    Tags: None
    • ChEAr$
      Senior Member
      • Dec 2005
      • 3872
      #2
      Yes

      Originally posted by kpangelinan
      Can an individual take a loss on their personal returns for losing their investment in a partnership they were part of? This individual basically invested cash and the company closed. Thanks,
      It's a capital loss, either short or long.
      Or both, depending on timing of investments.
      ChEAr$,
      Harlan Lunsford, EA n LA

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