In my opinion you can only deduct the start up costs in the year you had the expense, not now.
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Submitted 394 days ago...
LLC that has been idle for 3 years
I formed a home inspection business in the end of 2005. This was to be a side business, but I never got the business going. I initially had startup costs when I filed my return for 2005, but I never got the business going, and have never done an inspection. I have never made any profit with this business, so do I still include this in my taxes since I still have an LLC that has had no losses or profits since 2005 (start up costs only)?
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LLC that has been idle for 3 years
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