Stretch62
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The way I read this is the partnership LLC passes thru all losses, including depreciation, to my wife’s personal income tax return. And depreciation deduction t...
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Not passive income. It's a member managed LLC.
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She has two sources of income - her main job which has substantial earnings on her W2 wages (and taxes). Second, she started and LLC in 2019. In year 1, we in...
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My wife has two sources of income. First she makes wages and pays a lot of taxes. Second, she formed an LLC in 2019. The capital installed in that business wa...
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How can I override turbotax for LLC (partnerships) to show the full losses on schedule Ks?
Activity Feed for Stretch62
- Posted Re: LLC losses - depreciation and adding to W2 wages - turbotax for business is limiting my decpreciation to the LLC income. I should be able to sutract losses or depreciation up to my combined income (W2 wages from company abcd and an LLC). How? on Business & farm. February 10, 2020 6:50 PM
- Posted Re: LLC losses - depreciation and adding to W2 wages - turbotax for business is limiting my decpreciation to the LLC income. I should be able to sutract losses or depreciation up to my combined income (W2 wages from company abcd and an LLC). How? on Business & farm. February 9, 2020 10:21 AM
- Posted Re: LLC losses - depreciation and adding to W2 wages - turbotax for business is limiting my decpreciation to the LLC income. I should be able to sutract losses or depreciation up to my combined income (W2 wages from company abcd and an LLC). How? on Business & farm. February 9, 2020 10:20 AM
- Posted Re: LLC losses - depreciation and adding to W2 wages - turbotax for business is limiting my decpreciation to the LLC income. I should be able to sutract losses or depreciation up to my combined income (W2 wages from company abcd and an LLC). How? on Business & farm. February 9, 2020 10:13 AM
- Posted Re: LLC losses - depreciation and adding to W2 wages - turbotax for business is limiting my decpreciation to the LLC income. I should be able to sutract losses or depreciation up to my combined income (W2 wages from company abcd and an LLC). How? on Business & farm. February 8, 2020 4:11 PM
- Posted LLC losses - depreciation and adding to W2 wages - turbotax for business is limiting my decpreciation to the LLC income. I should be able to sutract losses or depreciation up to my combined income (W2 wages from company abcd and an LLC). How? on Business & farm. February 8, 2020 4:07 PM