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June 1, 2019
Question

I have an LLC business therefore an EIN. Can I file my LLC business taxes with TurboTax?

  • June 1, 2019
  • 1 reply
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1 reply

Employee
June 1, 2019

Yes...if you are a Single Member LLC, you can just file a Schedule C with your Form 1040.

An LLC is an entity created by state statute. Depending on elections made by the LLC and the number of members, the IRS will treat an LLC either as a corporation, partnership, or as part of the owner’s tax return (a disregarded entity). Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. An LLC with only one member is treated as an entity disregarded as separate from its owner for income tax purposes (but as a separate entity for purposes of employment tax and certain excise taxes), unless it files Form 8832 and affirmatively elects to be treated as a corporation.


alex9Author
June 1, 2019
Thank you for replying. If it is a 2 member LLC can I still do taxes with Turbotax? And what product? Thank you. First time doing this.