You have two types of losses here - passive loss and an active investment loss. The passive loss has carried forward and accumulated for the life of the investment but can never exceed what you actually have invested in the LLC. In other words, you can't lose what you have not invested.
Your basis in the investment should be $50,000 unless there was some other contribution into the business made on your behalf. The maximum loss that you can deduct is the amount that you have invested in the company. That's the actual amount that you lost. If there were other contributions made on your behalf into the company then those would increase your basis or investment in the company and increase the amount that you lost. Otherwise, your maximum loss deduction for the year is your initial investment or $50,000.
@gnorby
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