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user21742651
Returning Member

Can we claim deductions for expenses from 2017 for an LLC company formed in 2018?

My wife formed an LLC in 2018 for a book she began writing in 2017.  We would like to claim some deductions for start-up costs we had in 2017.  We did not file a claim for the new company in 2017.

1 Reply
WillK
Level 9

Can we claim deductions for expenses from 2017 for an LLC company formed in 2018?

Yes, you can claim startup expenses from 2017 on your 2018 return. Turbo Tax will be able to walk you through how to claim those expenses and if you need to amortize the rest. 

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