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Don't kid yourself. It is not a loan. Don't expect to see that money return to you. There is nothing to rationalize here. Don't give a gambler money or an alcoholic a drink. Period. Tell him you care and to get help immediately.

Thanks again for the feedback everyone.

OldShooter my idea is to invest in the oil gas drilling only enough to wash the CGs. Probably no more than 100k and less than 10% of my portfolio. I was not solicited or cold called. It was a suggestion from a reputable financial advisor. Pay the IRS and get nothing or invest in the partnership...

Thanks all for the feedback. Much appreciated. I am thinking of using the oil & gas partnership deduction to offset significant capital gains tax. My understanding is that it could be a wash.

Hi everyone. I'm new here. Looking for any feedback on oil and gas partnerships. My understanding is that there is a significant tax deduction after investment followed by modest pay back over years. Would you recommend if I am looking for a tax deduction? Thanks.