NOL a business bad debt or personal bad debt?
by ZayandMo2, Window Shopper
- Created: March 2, 2013, 8:04 pm
- Updated: March 2, 2013, 8:06 pm
My husband and I entered into a business argeement in 2012, with a third party and gave him a certain amount of money for this deal. We later learned that he did not comply with the agreements. We demanded our money back but he will not return our money.The incident has since been reported to the FBI and he has also done this to other individuals. Can we claim this NOL for this business or do we report it as a bad debt on our personal taxes? I had a Sole Propriortorship licence for 2012 , but my husband also signed the agreement. Which IRS forms will we use?
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