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Question

Investment returns for single member LLC / disregarded entity

Forum|Forum|3 years ago
March 29, 2023
1 reply
0 views

Hello,

I have a single member LLC for the purpose of making investments. Not an operating company. Disregarded entity. No K-1.

Income for 2022 was just interest from a bank for which the LLC got a 1099-INT.

Where do I enter this income?

Thanks.

TurboTax Self Employed Online

Your single member LLC is a disregarded entity for tax purposes.

Your enter all its income and expenses on your personal tax return.

You can enter your form 1099-INT by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Wages & Income
Continue to All Income, locate the section Investments and Savings and click on Show more
Click Start next to Interest on 1099-INT.

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Great. Thanks!