capitol gains

[charles garrett]

Is there any way a profitable capitol gain in an llc can be combined with a unprofitable capitol gain filed with a sch c personal return

[charles garrett]

Is there any way a profitable capitol gain in a llc can be combined with a personal capitol gain loss

[kathyc2]

All capital gains and losses flow through Sch D and are netted.

[Dusty2004]

But Schedule C income is not Capital Gains in but Earned income so it will not be combined on Schedule D.

[JohnH]

Are you a tax preparer? If not, you need to pay a tax pro to do this work for you, I can assure you that you are way in over your head, based entirely upon your spelling and usage of two critical terms.

[charles garrett]

Thanks kathy-you told me what i wanted to be sure of -thanks john--you made my day --thanks dusty i wish you all well

[Lion]

Is the LLC a single member taxed on a Schedule C or did it elect to be taxed as an S-corporation or C-corporation or is it taxed as a partnership? And, why does it have a capital gain? Is it an investment company or a holding company? And, how was an unprofitable capital gain generated on the Schedule C personal return? Aren't the capital gains on Schedule D? Aren't the capital losses on Schedule D? What have you found in The Tax Book or other research sources?

[TAXNJ]

Is the LLC a single member taxed on a Schedule C or did it elect to be taxed as an S-corporation or C-corporation or is it taxed as a partnership? And, why does it have a capital gain? Is it an investment company or a holding company? And, how was an unprofitable capital gain generated on the Schedule C personal return? Aren't the capital gains on Schedule D? Aren't the capital losses on Schedule D? What have you found in The Tax Book or other research sources?

Why continue this issue?

Reply poster FEDUKE404 summed it up best, “I think kathyc2 already gave the most appropriate answer and we best just let sleeping dogs lie for anything further.”

Also the Original Poster replied with, “Thanks kathy-you told me what i wanted to be sure of”

[JohnH]

Why continue this issue?

Reply poster FEDUKE404 summed it up best, “I think kathyc2 already gave the most appropriate answer and we best just let sleeping dogs lie for anything further.”

Also the Original Poster replied with, “Thanks kathy-you told me what i wanted to be sure of”

I'd like to say I agree, but that would just needlessly keep this thread going.