please help me to figure this out - I need to make a decision so

I have a new LLC and if I purchase a proplerty in Dec 2012, i will have a business loss (closing cost greater than rent), can this loss in LLC offset my personal income tax? Should I settle it in January 2013?  the loss will be over 10k.

according to web search, if the loss is Net Operating Loss, It can offset the other personal  income so I should close it in 2012, but if it is passive activity loss, it  can not offset personal income if I did not work for 500 hours on it.    Is my closing loss in LLC belong to net operating loss or passive activity loss?

Thanks in advance!

 

 

所有跟帖： 

• depends on your income level... -planotx- ♂ (140 bytes) () 12/18/2012 postreply 11:09:33

• thanks for your reply -oceanview2011- ♀ (150 bytes) () 12/18/2012 postreply 11:17:57

• Really? Are you sure there is a limit on carry over? -abc1967- ♀ (81 bytes) () 12/18/2012 postreply 11:31:04

• My memory is fading -planotx- ♂ (146 bytes) () 12/18/2012 postreply 12:20:36

• As far as I know, your closing cost needs to be depreciated. -abc1967- ♀ (0 bytes) () 12/18/2012 postreply 11:29:26

• if LLC closing cost can offset personal income, -OceanView2011- ♀ (52 bytes) () 12/18/2012 postreply 13:00:09

• closing cost is your cost base. -planotx- ♂ (117 bytes) () 12/18/2012 postreply 13:35:02

• 做apt不划算，但那个地点做旅馆蛮好的。 -SunshineInCA- ♀ (0 bytes) () 12/18/2012 postreply 14:39:47

• knocked the wrong door. -jjj7- ♂ (0 bytes) () 12/18/2012 postreply 15:29:38

• 还好没有枪指着俺的头，跟错贴了。 -SunshineInCA- ♀ (0 bytes) () 12/18/2012 postreply 15:32:42