Solved
Schedule C or K-1
I am a single member LLC. If I capture all of my business income on the schedule C, do I need to do a K-1? I think I was double reporting my income by doing both.
@cbhergert wrote:
I am a single member LLC. If I capture all of my business income on the schedule C, do I need to do a K-1?
You do not need Schedule K-1 as you are a sole proprietor.
Only owners/members/shareholders/beneficiaries of pass-through entities, such as partnerships, multi-member LLCs, S corporations, and estates/trusts receive K-1s.
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