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If you did not sell your interest in the business and the business is still operating there is nothing to report currently on your tax return.
When you sell this investment you will claim the income/loss in the Investment Section of TurboTax.
[Edited 9:40 am PST]
Hi Diane,
I invested in a friend's startup in 2019 through my sole member LLC. The startup did not give any returns in 2019. In 2020 it will likely be declared bankrupt. What tax return needs to be filed for 2019 by me? I would like to claim the investment loss. When can i do that 2019 or 2020?
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