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Can I use TurboTax to offset W2 income with loss from an LLC? I quit my corporate job halfway through the year and formed a small business that showed a loss.
Pretty straightforward:
First 7 months of year I was a W2 employee. In August, I quit my job to form a single-member LLC (a completely different business - I'm not just contracting in the same industry) that showed a loss. Can I use the loss from the LLC to offset my W2 income using TurboTax?
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‎June 6, 2019
9:11 AM