Is there a way to deduct money that was provided as a loan to open business I became unemployed in 2010. I had a lump sum payout when I left. So, my wife opened an s corporation busines. I loaned her the capital to open the business. Can I deduct the amount of the loan. I understand that the interest paid back from the company would be income as it is paid but is there a way for me to reduce my income for this year by the amount of the investment. |