Thank you for your replay to my question concerning closing a single member LLC and reporting unamortized startup costs. I still have a couple of questions, if you will indulge me.
My Schedule C loss in 2024 for the business I closed was $11,448. I assume it shows up somewhere as a loss carry-forward. The loss in 2025 is $3,182, bringing the total Schedule C losses to $14,630.
All the money paid into the business was at risk, and was money already taxed as income in previous years. Will any portion of the $14,630 be recoverable through the tax process, if I'm informing the IRS that the business is closed? How do I make this evident on this year's 1040?
Thank you!
Thank you for your help. I appreciate it!
