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I’d have expected you would need to demonstrate an attempt to generate income from an asset before the government would effectively give you a write off of the
by PebblesHD 3y ago
I’d have expected you would need to demonstrate an attempt to generate income from an asset before the government would effectively give you a write off of the whole value. Anyway, thanks, hadn’t thought of it that way.
- plasticchris 3y agoThis is not a problem if you are still making a profit and not an obvious tax shelter. After all, how would the IRS know which business expenses are intended to make a profit vs investments that didn’t pan out? There is obviously room for abuse there but it is for company ownership to deal with not the government.