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March 4, 2025
Question

personal cash used to open business bank account - how do i record this on our business taxes?

  • March 4, 2025
  • 1 reply
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Total amount was $300

    1 reply

    March 4, 2025

    You don't need to enter that on your tax return at all.  That is a balance sheet entry.  It is called 'Paid in Capital' and it increases the value of your ownership of the business.  Or it is just a loan to the business from you that the business needs to pay back eventually.

     

    @elemenths123 

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