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LLC Created

I formed an LLC (solo) in May 2023. I have expenses associated with the LLC, though there were no profits yet. It has been set up with Federal ID, but still need to complete the state. Can I still complete my business expenses/losses within turbotax when I file for my personal taxes?

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LLC Created

Yes.

Your single-member LLC is a disregarded entity.

You report income and expenses of the LLC on Schedule C of your personal tax return.

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