Question

LLC form how to file?

Forum|Forum|3 years ago
December 10, 2022
2 replies
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This is my first time filing my LLC which I formed back in late 2021. I need to claim it where do I claim it? and what tax form do I fill out for single member LLC? Also, is there a separate form for tax write offs?

TurboTax Online

X

xmasbaby0

Employee

Your single member LLC is a disregarded entity. You will need to use either online Self-Employed software, or any version of the CD/download software. Your business expenses go on a Schedule C. And you will pay self-employment tax for Social Security and Medicare, as well as ordinary income tax. ALL of your income goes on the same Form 1040; you are not going to prepare a separate return for the business.

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/1901205-where-do-i-find-schedule-se

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Carl11_2

Employee

FYI, if the LLC is for rental real estate, the rental real estate is *still* reported on SCH E, unless you meet very specific criteria for your rental to qualify as a SCH C business.