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Business & farm
I HIGHLY recommend you sit down with a local tax pro/financial advisor to define what this "LLC" business really is and how it will be taxed. If this is simply a single member LLC reported on the Sch F then YOU not the LLC would be investing in the market and those cap gain sales would be reported on the Sch D. There are so many options to discuss and this public forum is not the correct place to do so as you will not know if you are getting good or accurate advice. Your total income situation needs to be discussed along with your goals and plans ... please seek local financial/tax planning before you make costly mistakes.
‎October 1, 2020
9:13 AM
1,568 Views