About mahimahimom

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Re: Single Member LLC - How do I carry forward losses from prior yea...

DMERTZ, thank you for your response.So DMERTZ, Question:Let's say:2020: Schedule C: Line 29 Tentative profit or (loss). Subtract line 28 from line 7. . . . .. ....

mahimahimom

1

Updated Mar 24, 2025
Re: Single Member LLC - How do I carry forward losses from prior yea...

You wrote:"There's no carryforward of losses for a single-member LLC"But isn't that incorrect?Last year's Schedule C loss,Tentative profit or (loss). Subtract l...

mahimahimom

4

Updated Mar 24, 2025
Re: Single Member LLC - How do I carry forward losses from prior yea...

Go to Final Details at the bottom of the Business Income and Expenses page in TT.Then click; Update.On the update/next screen, click; I have at risk losses carr...

mahimahimom

Updated Mar 24, 2025
Re: Single Member LLC - How do I carry forward losses from prior yea...

PS: I mean "current year".Last year's loss from your Schedule C goes asSECTION 465(d) CARRYOVERon Line 27 of your Sch C called Other Expenses (from line 48) whe...

mahimahimom

1

Updated Mar 24, 2025
Re: Single Member LLC - How do I carry forward losses from prior yea...

Your prior year's losses, from your prior year's Schedule C,go on your next year's Schedule C as:SECTION 465(d) CARRYOVERunder Part II Expenses of Schedule C (P...

mahimahimom

2

Updated Mar 24, 2025

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Date Registered	‎December 5, 2021 3:17 PM
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