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annmray
New Member

I dissolved an LLC in 2024 but still have amortized costs? Should I add those expenses for 2024 or remove the LLC?

I have $1,218 in amortized costs already added to expenses for this LLC, but no income and dissolved the LLC in Feb 2024. Should I go ahead and remove this LLC filing?
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I dissolved an LLC in 2024 but still have amortized costs? Should I add those expenses for 2024 or remove the LLC?

Your unamortized costs can be expensed in your final year.

However, if you dissolved the LLC in February of 2024 your return is late.

The final return should have been filed by the 15th day of the third month after it was dissolved.  That would make the due date May 15th, 2024.

You may receive a late filing notice from the IRS, so just be prepared.

 

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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