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There is no limit.
But Lightroom needs to be open when you save out from Photoshop, otherwise the script that tracks the location won't be running, and Lightroom won't know about the save.
You also need to have "maximize compatibility" checked in Photoshop. Lightroom can't work with layers, but max compatibility includes a merged composite layer that Lightroom can read.
And of course, nothing is ever saved "to" Lightroom. The Lightroom catalog is just a pointer to wherever the file is physically located on disk.
I can easily sent a photo from Lightroom to Photoshop. I can easily send it
back from PS to LR the first time. Then, if I have to return the photo to
PS for a few tweaks, and hit save, it does not return to LR. I then have to
re-import it into LR as a new photo. This is the problem that I need
solved. In other words if you don't get it right in PS the first time, you
have to treat it as a new photo and import into LR. that is why it looks
like there is a limit to haw many times you can EASILY switch back and
forth from LR TO PS. Any explanation would be appreciated!