This is the first year I traded with a prop firm, and I ended up losing money. The firm is saying they only send out documents to report if I have a profit. However, I found the below link, and now am a bit confused:
http://www.greencompany.com/PropTraders/TradersTax.shtml#deposits
If I don't receive anything from the firm, I think it wouldn't be possible to report a "bad business debt" on Schedule C. Is this right??
http://www.greencompany.com/PropTraders/TradersTax.shtml#deposits
If I don't receive anything from the firm, I think it wouldn't be possible to report a "bad business debt" on Schedule C. Is this right??