Capital Gains and Losses
Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP
It depends, how has the limited company been reporting to the IRS? you did report as being in the US? Is it reporting as a partnership, a corporation, or a corporation with a subchater-S election.
If a patnership or subchapter-S, all these flow through to the shareholder and it depends on other factors in the sharholders' return.
If the LLC is a corporation, the losses are carried forward unless an election is made to carry-back. So you should have carry-forward loss to offset the profits.
They allow the same carry-forward, and have the same offset rules (passive losses against passive gains, investment losses against investment gains). So, the answer is yes. In fact, this year they made it easier to allocate carry-forward losses to other type of profits in subsequent years.