Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
colinfast
New Member

My partner bought shares in a small business in 2011. She recently learned the corporation was dissolved a few years ago. Is it still possible to claim the loss?

The company was a Canadian operation, but it was registered in Nevada.

The loss has not been included in any of her previous tax returns. 

1 Reply
TurboTaxTatsiana1
New Member

My partner bought shares in a small business in 2011. She recently learned the corporation was dissolved a few years ago. Is it still possible to claim the loss?

You might be allowed to report a loss as ABIL ( allowable business investment loss) 

check out if it fits your situation.

You might have to refile you taxes for the year corporation was dissolved to add the loss there.  

https://www.taxtips.ca/smallbusiness/businessinvestmentloss.htm


https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...


About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.46m
Members

2.57m
Discussions

v