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Article Date:
August 2014


Word Count:
427

 

 

Tax Deductions for Failed Business


Question

 

I had a bad year in 2013. I started an antique business in February and shut it down in November.

 

At start-up, I rented space in a strip mall and stocked my space with what you might call stuff from Goodwill and the Salvation Army, where I purchased about 75 percent of my inventory. The other 25 percent of the inventory came from other antique dealers and yard sales within a 30-mile radius of the business.

 

Can I deduct what I ... Log in to view full article.

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