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Claiming Investment Losses

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Bjns935

Guest
Can living expenses for a person helping me set up a business be used as investment losses to me and not income to that person if the business does not go through. (Texas)

[Edited by Bjns935 on 01-31-2001 at 12:30 AM]
 


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loku

Guest
Living expenses

Those expenses qualify as investment expenses to you; therefore, they will increase your loss.

However, unless your helper had another residence during the period of time, and was temporarily staying away from that residence in order to accommodate the job, then the amount of expense is income to the helper, whether or not the fails.
 
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Bjns935

Guest
Investment Losses

Loku....Thanks very much for the information.
 

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