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TurboTax doesn't seem to offset my taxes owed when I lost money in my business
I have a job where I get W-2, investment income with capital gains, and single-member LLC. After submitting my W-2, investment income I owe about $1k in taxes. After submitting my business income and expenses my business incurred a lost of $4k from consultation, fees, advertisement, etc. I was expecting the taxes owed to drop significantly but to my surprised it was unchanged. What's going on?
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‎April 12, 2021
9:44 PM