topic I invested as a partner in a start up business in November of 2021. I have not received any reportable income from the LLC yet. Can I write off my investment in Business & farm

I invested as a partner in a start up business in November of 2021. I have not received any reportable income from the LLC yet. Can I write off my investment

kschorejs — Mon, 09 Mar 2026 06:25:01 GMT

ThomasM125 — Fri, 04 Feb 2022 21:18:39 GMT

You can only write it off in the year you are sure it will never be paid back, which is normally evidenced by the company going out of business.

Rick19744 — Sat, 05 Feb 2022 00:51:24 GMT

There are far too few facts to be able to address your question:

You invested in an LLC in November and it's now just barely February and you want to write-off your investment?
The LLC return is not even due until March 15th, and even then, it can get an extension to file the return
What exactly are you looking for when you say "I have not received any reportable income...."
An LLC is taxed as a pass-through entity, and as such, each member is taxed on the income whether the LLC distributes any $$ or not.
Do you understand how LLC's work?