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New Member
posted Oct 30, 2019 5:04:55 PM

I started a business in 2017 with a partner. We incorporated a company, paid for a website, etc. The business went no where. Can i claim 50% of the expenses incurred?

can I claim the money I invested in a failed business venture from my personal income return

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Moderator
Oct 30, 2019 5:04:56 PM

How much of the loss you can declare on your tax return depends upon the specifics of the business and the nature of its failure. You can read more about it here: https://turbotax.intuit.ca/tips/losses-from-investing-in-a-failed-business-6109

 

If you are still unsure of what you can claim, you can contact the CRA and confirm: https://turbotax.community.intuit.ca/replies/2647704