I have an LLC but only had losses, where do I go to file my business tax?

Forum|Forum|11 months ago
April 12, 2025
1 reply
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sole owner, LLC, just started last year, only losses. How do I file or where?

TurboTax Deluxe Online

DianeW777

A single member limited liability company (SMLLC) is filed on your individual tax return using Schedule C. A business allows you to deduct the costs necessary to obtain the income. The law explains that 'you must be engaged in the activity to produce a profit'. The test under IRS tax law is that you must show a profit three out of every five consecutive years to be considered a business (a test and not definite, also time, investment and other details are considered).

The links below will show you the steps to report your income and expenses for 2024.

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