I invested with a startup LLC and began receiving income for my membership interest. I have not made back my initial investment. Where do I claim this income/loss?

colebubba246 · ‎February 25, 2020

DianeC958 · ‎February 25, 2020

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]

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PSG2020 · ‎April 26, 2020

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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I invested with a startup LLC and began receiving income for my membership interest. I have not made back my initial investment. Where do I claim this income/loss?