2007-01-02 07:30:15 · 2 answers · asked by robbievic 2 in Business & Finance ➔ Corporations
If the investment was in stock in the company, then you can claim it as a capital loss on worthless stock (but only if the stock is in fact deemed to be worthless). It is considered worthless in the last day of the tax year it is deemed worthless.
You won't get your money back, but you would be able to deduct it as a capital loss on your tax return.
If it was a loan to the company, then you just get added to the list of creditors and hopefully through the liquidation, you might get some of your money back.
2007-01-02 07:40:47 · answer #1 · answered by jseah114 6 · 1⤊ 0⤋
Has there bankruptcy been discharged yet? Hire a lawyer and go to the hearing if it hasn't been discharged yet!!
2007-01-02 15:35:03 · answer #2 · answered by CEESONE 4 · 0⤊ 1⤋