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New Member
posted Mar 3, 2025 5:02:37 PM

Loss carryforward multimember llc

Company (multi member LLC) was established in 2021 resulting in losses in the last three years. In 2024 there is a profit. For business there is no tax due but personal there shows now tax for self employment. Where do I report loss carryforwards to avoid these tax?

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1 Replies
Level 15
Mar 3, 2025 5:07:50 PM

Loss carryforwards do not reduce the current year's self-employment income. Each year stands on its own.