- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@Mike9241 awesome, thanks for the quick reply!
Can you comment as to if this deduction would apply to the LLC A only which only made $2k profit this year or could it also be applied to my K-1 or general stock gains?
For example, if I make $20k profit in stock gains, $10k k1 and $2k for the LLC A (the car is for this business) can I use the $26,000 limit toward the $20k stock profit OR the $10k K-1 income?
Thanks for your help
‎November 15, 2021
8:00 PM