Business tax - Sole Proprietorship LLC

[LTM1]

I have a sole proprietorship LLC  operating in its 3rd year now but there has been no revenue and actuals post negative return. Do I need to be concerned about claiming itemized deductions when there are revenue losses for a 3rd year straight? Would there be tax penalty implications at this point?

[R-SchuleCPA]

If you have income other than the LLC, then itemized deductions or standard deduction should be considered. If not, and if totality of all income is a loss, then it shouldn't.  The implication for multiple loss years is that of a hobby loss. See below link. However, if your are operating the business for profit, then a few loss years,  back to back should not matter.

Business as a hobby