PatriciaV
Employee Tax Expert

Business & farm

Net Loss from an LLC (regardless of character) is reported on the members' personal returns. Members will report a Long Term Gain/Loss based on their own records of the net investment at dissolution. The entity itself had a loss in the final tax period, which should be reflected on the final tax return as you have presented it above. No further adjustments are needed to "zero out" the Net Income / Retained Earnings.
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