As a member of the LLC you need to figure out who will be in charge of the filing of the tax return.
This is important, as a failure to file the return penalty is $205 per month per member up to 12 months. That will become expensive very quickly.
Since the business is not shut down, you are not able to take any loss on this investment. Based on the limited facts, there are not sufficient facts to support a loss at this time.
Someone needs to step-up on the financial side to take care of all filing requirements.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
