Thanks so much for the help.
Whatever, now I see my test reply. So, lemme add again details.
The LLC is 50-50 with my wife.
I sent 1099 forms to the contractors and I filed accordingly with IRS
I filed the business papers with 1065 form (which includes inside it also sections for schedule B, schedule K, schedule L, schedule M-1 and M-2), 8825 form, 4562 form, separate schedule B-1 and K-1 for form 1065.
So you're saying I cant deduct the LLC business loss from my salary income basically. What about next year, when I file for 2022 taxes - if I have LLC income for the 2022, can I deduct the LLC losses (all?) from the previous year?
I'll mention also that I bought TurboTax Home&Business (desktop edition) but it seems it's not the right software to use in my case, it seems I should have bought separately Business and one of the Home ones. I ended up filing manually, by post mail for the business - I might be able to do it from the software for the personal taxes though, not sure yet.
Thanks so much,
