Hello,
When you say there is an option to "file now without entering any income/loss for the year and report the disposition of your LLC investment.", please provide more detail on how I can report the "disposition of my investment". E.g. the entity is no longer operating. I do know that my former partner notified the Secretary of State that the entity was closed, but I am unsure of whether they did so with the IRS - via a 1065.
(1) Are you saying that I should inform the IRS of the business closure? Or that I no longer have any interest in the entity? In either or both cases, how would you suggest I do that?
(2) I have incurred a net loss. Are you saying that I am able to report that loss elsewhere on my return - perhaps as an investment loss? Or are you saying there is absolutely no way for me to claim the loss on may taxes without a K1?
Thanks again.
