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LLC added 3rd member in July - how to show losses in Q1-2 and profit in Q3-4?
We are a 2 person LLC. WE added a 3rd member July 1, 2019.
During Q1-2 - we had significant losses .
I see where turbo tax asked the date of the ownership change, but I don't see where it asks for profit/losses info for Q1-2 vs Q3-4.
The 2 members for Q1-2 should be able to take the losses shown during that time, because if we only look at year end, it shows a small profit (with the 3 members).
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‎February 8, 2020
3:26 PM