If you are a single member LLC, you will file the business on Schedule C of your personal tax return. If you are a partnership, corporation, or S-corporation, you will need to use TurboTax Business to file the business return and then input the K-1 information on your personal return. You will show the actual profit on the tax return no matter what you plan to do with the actual funds that make up the profit. In your situation, you wish to use the profit towards the next's years expenses -- you will still show the profit on the return and pay tax on it.
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