Question

How do i indiacte loss or profit from LLC on personal tax return

Forum|Forum|7 years ago
June 5, 2019
1 reply
0 views

I am a part owner in an LLC, which reported a loss in 2018. I don't know how to indicate this on my personal tax return

TurboTax Deluxe Online

Employee

The member responsible for tax matters in the LLC, or the company's accountants, should have mailed you a Schedule K-1, if the LLC reports as a partnership or as an S Corp. The Schedule K-1 information should be entered into TurboTax to transfer your share of profit or loss, capital gain (loss) items, interest, etc. into your Form 1040.