Question

We closed our LLC business in 2022. We did not close the business with the IRS. Can we claim carryforward losses in 2023 even though we do not have any income?

Forum|Forum|2 years ago
April 11, 2024
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TurboTax Online

You can carry forward losses but you may not be able to apply them in the current year. For instance, if you had passive losses because you did not materially participate in the business, you could only use them in future years when you had passive income. If you could clarify what losses you want to carry forward we can help you better.

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