Solved: Is there a way that I can claim a deduction for mo...

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

Français English
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

Is there a way that I can claim a deduction for money I invested into my incorporated startup?

 
1 Best answer

Accepted Solutions
Highlighted
New Member

Is there a way that I can claim a deduction for money I invested into my incorporated startup?

No, you can't make a claim for that equity you provided the corporation.  If, in the future, you dissolve the corporation, and there is still an amount due to you (Due to Shareholder) then you could make a claim on your personal tax return, but for now, no.  However, if later on, there is enough money in the corporation that you could withdraw the money you put in, then you can do so without including it as income on your personal return.

View solution in original post

2 Replies
Highlighted
New Member

Is there a way that I can claim a deduction for money I invested into my incorporated startup?

No, you can't make a claim for that equity you provided the corporation.  If, in the future, you dissolve the corporation, and there is still an amount due to you (Due to Shareholder) then you could make a claim on your personal tax return, but for now, no.  However, if later on, there is enough money in the corporation that you could withdraw the money you put in, then you can do so without including it as income on your personal return.

View solution in original post

Highlighted
New Member

Is there a way that I can claim a deduction for money I invested into my incorporated startup?

Thank you!
v