Investors & landlords

The two tax years are entirely separate in terms of any net profit realized by the LLC.

 

In other words, if your LLC has a net profit of $50,000 in 2022, then you would be liable for your share of that $50,000 net profit (again, as reported to you on your K-1). You cannot reduce the 2022 net profit of $50,000 by the net profit reported in 2021.