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Get your taxes done using TurboTax
If you have income other than the LLC, then itemized deductions or standard deduction should be considered. If not, and if totality of all income is a loss, then it shouldn't. The implication for multiple loss years is that of a hobby loss. See below link. However, if your are operating the business for profit, then a few loss years, back to back should not matter.
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‎November 16, 2022
11:42 AM
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