Question

I get paid on W2. In 2019, I lost $7000 investing in a start-up in Turkey as an angel investor. Can I claim this loss in my 2019 tax return? Will I get audited?

Forum|Forum|5 years ago
December 9, 2020
1 reply
0 views

I am a US citizen. I already filed my tax return for 2019. In addition to my W2 income, as a side income, there were self-employment income and expenses in my 2019 tax return (from Postames food delivery as a driver). I also invested $7000 in a small start-up in Turkey as an angel investor, but the project was shut down due to legal issues and I lost this investment. I forgot to include this $7000 as a loss in my 2019 tax return. Can I claim this loss in my 2019 tax return? Will I get audited if I file an amended 2019 tax return including this $7000 loss?

TurboTax Live Self Employed

Critter-3

Go to this TurboTax website to download the 2019 amend software - https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty19/

A

Anonymous

will you get audited? totally in the hands of the IRS. since the IRS only audits a small % of returns you stand a good chance of not getting audited, but no one can say for sure.