Question

1099K with EIN, but I am a single entity LLC

Forum|Forum|3 years ago
December 10, 2022
3 replies
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Stripe stated they will be sending a 1099K with my business EIN, but I am a single entity LLC and I file using my SSN on Schedule C. Do I need to have the 1099K under my SSN?

M

Mike9241

NO an SMLLC can have an EIN. some use it to avoid having to give their SSN to suppliers but generally, you need a business bank account to get an EIN.

O

OBAATAuthor

But will I run into issues with tax reporting when the 1099 has the EIN but I don't use that as a SMLLC

A

AmeliesUncle

The 1099 should be issued to YOU, using either your SSN or the EIN for YOU (not the LLC's EIN, which is only used for payroll or excise taxes).

Critter-3

OK ... FYI ... when you GOT the EIN for the SMLLC you linked it to your SS# (remember doing that on the SS-4 form ?) and then on the Sch C you file BOTH the EIN & SS# are listed on it so any 1099 issue to either number are automatically linked to that very Sch C. There is no issue to deal with ... you did everything correctly.

Carl11_2

Employee

It does not matter if the tax reporting document received has your SSN or EIN on it. Since the IRS issued you the EIN, they already know what SSN that EIN is tied to. Just enter the tax reporting document exactly as printed.