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Business & farm
Rick, here are the answers to your questions:
1) I have had this investment since 2020. I made one $20,000 investment at the time and there has been no activity (either distributions or additional investments) since then.
2) It is an LLC.
3) No suspended loss or any other activity from this LLC since inception.
4) Box L shows $20,000 as Beginning Capital Account. It also shows (125,786) as current year (loss) and $105,786 as "Other Increase" with no explanation.
5) The only figure shown in Part III is Ordinary Income (Loss) of (125,786).
Now what???
March 23, 2025
10:56 AM