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Reporting a business loan loss made by an LLC
My daughter runs a single-member LLC which made a $22,000 loan to another business. That business has folded, but repaid $12,000 to her LLC before folding. How does her LLC report the $10,000 loss? Does she have to add an attachment to her return describing the loss? Can the return still be e-filed (since it is a very large return)?
‎January 13, 2024
11:18 AM