Co-op fail?

November 27, 2010 6:05 AM

Co-op question. We contributed $400 (fully vested!) to a food co-op that may never happen. It hasn't been able to secure funding through a USDA loan, or by any other method. It's been about four years. Can I take an income tax deduction?
posted by fixedgear to Shopping (1 answer total)

Best answer: How was the Coop organized when you contributed? Was it a 501(c)3? Were you officially recognized as a partner in the business? Did you receive any paperwork at all (aside from a simple receipt)?

(Simple answer: probably not)
posted by mkultra at 7:36 AM on November 27, 2010