Irs Tax Deductions

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Irs Tax Deductions

Question: I’m investing some money in a venture in India. In case the venture fails, how do I take tax deduction frm IRS




Answer: It would be a capital loss, taken on Schedule D. No different than investing in a venture here in the US.

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Be alert for tax breaks, IRS says

Although the April 15 tax-filing deadline still is months away, nows the time for people to start checking for tax breaks they might receive on this years returns, an IRS spokesman says.

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