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Posted by Tommy on April 17, 2006, 12:05 am
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Way back during the tech boom of 1999, some friends and I
decided to be angel investors in a startup (autoeloan.com).
Since the minimum investment was 25K, several of us pooled
together to form an LLC. My share was 5K.
After the bust, the venture died a long slow death and we
lost touch and I didn't keep on top of it as I should have.
How can I or how could I have claimed a loss on it? Does a
Schedule K need to be filed? I think autoeloan.com folded in
2003 and I'm not sure if the LLC was ever declared dead.
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