Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Single member LLC

khorshed
Level 3

Can single member LLC carry losses forward?

0 Cheers
1 Best Answer

Accepted Solutions
abctax55
Level 15

Short answer is no.  The SMLLC can't (I'm assuming no election to be treated as a reporting entity..)

But the owner 'might' be able to, depending on all the other income/losses.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

View solution in original post

4 Comments 4
abctax55
Level 15

Short answer is no.  The SMLLC can't (I'm assuming no election to be treated as a reporting entity..)

But the owner 'might' be able to, depending on all the other income/losses.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
IRonMaN
Level 15

If this was Wheel of Fortune maybe someone could buy a vowel to solve it

N_ _  O _ _ _ _ _ _ _   L_ _ _ 

 

 


Slava Ukraini!
khorshed
Level 3

Thank you

khorshed
Level 3

Thank you