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

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    #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,
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    #2
    Yes

    Originally posted by kpangelinan View Post
    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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