Personal Finance & Money Asked on December 11, 2020
I’ve heard that in general only businesses can carry tax loss forward (though in certain cases individuals can, too). Can someone filing taxes as an individual because they have a business which is a disregarded entity (a single member LLC) carry a loss?
(Also, what is this 80% limit? If there is a net loss, 80% of it will always be higher than 80% of the profits since the profits are 0!)
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