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ksbrzoz
April 15, 2025
Question

Where on an LLC's return can i put a loss of a business promissory note that was not fulfilled

  • April 15, 2025
  • 1 reply
  • 0 views
Our LLC had a promissory note from another LLC to either give us shares or pay us back the cash. They went out of business. Where can I claim this loss?

    1 reply

    T
    ThomasM125
    April 16, 2025

    That would be a business bad debt. You enter that on line 12 of Form 1065, page 1.

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