I have been a minority owner of an Ohio LLC. The franchise closed in 2009 but the LLC just dissolved December of 2014.
I haven't been able to deduct losses from my W2 wages as I haven't been actively doing anything with the LLC and am a minority owner.
I had been told that once the LLC dissolved I would be able to claim the losses against active income/W2 wages. In researching this I can't seem to confirm that this is allowable.