You wrote:
"There's no carryforward of losses for a single-member LLC"
But isn't that incorrect?
Last year's Schedule C loss,
Tentative profit or (loss). Subtract line 28 from line 7,
Let's say, is $22,131
That 422,131 gets carried over onto this year's Schedule C
under "Other Expenses" under line 27 and 48 as
SECTION 465(d) CARRYOVER $22,131
That number gets entered this year, so that is a form of "carryover", correct?
I am not sure how you can say that there is no carryforward of losses for a single member LLC,
as though a single member LLC can't utilize its losses later (or sometimes earlier).
That's not true.
