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  • Jan 10th, 2018 10:04 pm
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[OP]
Deal Addict
Nov 2, 2003
1073 posts
29 upvotes

how to account my losses

my wife signed up with Canadian snack tower and it turned out to be a poor investment. she has no other income at the moment. how can we account for the investment and write it off. I have fulltime income. would I be able to adjust the losses against my taxes?
who/how do I get all of this accounted?
if you dont have an answer, dont repond to my thread.
I need answers, and thats why i use redflagdeals forums.
1 reply
Sr. Member
User avatar
Jan 1, 2009
822 posts
163 upvotes
Vancouver
junkone wrote:
Dec 30th, 2017 5:48 pm
my wife signed up with Canadian snack tower and it turned out to be a poor investment. she has no other income at the moment. how can we account for the investment and write it off. I have fulltime income. would I be able to adjust the losses against my taxes?
who/how do I get all of this accounted?
You have to be specific. Was your wife selling the product or a passive investor? It sounds like your wife invested into a business venture which realized a loss. You then can write off your expenses on form T2125 - statement of business and professional activities which then the net loss is reported on line 135 of her income tax return.

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