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Tax Advice, on a compete loss on a large investment?



If you invest 35K in a business, the business goes under and you take a total loss, when you claim it on your taxes, about how much of it will you get back?

That depends upon your tax bracket. Anything from 0% to 35%.

You're limited to $3,000 in net capital losses against other income in any one year. You'll have to carry the balance over to future years. If you're in a 15% bracket, the benefit for this year will be $450.
Check with your tax attorney. He'll have the legal know how. He'll also help you from having an IRS audit. Yes, you'll have to shell out a couple of bucks, in the long run it'll be worth it.
you have more or less answered your own question,, if you are in the 15% tax bracket, what is .15X35000??
or 15% of 35000
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