If I filed a business loss last year on my tax return, will the trustee ask for any other information? 3 Answers as of October 03, 2017

Last year, I filed business loss but a year later I filed bankruptcy. Will the trustee need a profit and loss statement or 1099 from last year's tax return? I no long have the business.

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Not likely. Rather common problem. Many business fail.
Answer Applies to: California
Replied: 10/3/2017
Ronald K. Nims LLC | Ronald K. Nims
If you no longer have the business, the trustee will be concerned mostly about any assets you used in the business, for example, tools, equipment, inventory. The trustee is looking for assets she/he can sell to pay your creditors, the trustee isn't concerned about your income or losses in earlier years.
Answer Applies to: Ohio
Replied: 10/2/2017
Stephens Gourley & Bywater | David A. Stephens
He will need the tax return, but if the business is closed he will likely not need a profit and loss.
Answer Applies to: Nevada
Replied: 10/2/2017
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