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February 20, 2022
Question

My husband started an LLC in 2020, he had a loss for the business that year, can I carryforward that loss into this year?

  • February 20, 2022
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1 reply

ColeenD3
February 20, 2022

No.  A Schedule C loss does not carry forward. If he is a single-member LLC, unless he chooses to be taxed as a corporation, he will file a Schedule C.