Question

Taxe with LLC

Forum|Forum|6 years ago
February 18, 2020
1 reply
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Hello,

I opened my LLC on January 13 2020, Can I declare the sales made between January 1 and January 13 with the LLC ?

Have a nice day,

Not A Product Question

Sales in 2020 will be filed on next year's tax return (to be filed by April 15th, 2021) Sales that were made prior to when your LLC started doing business should not be reported on the LLC tax return.

If you were generating sales prior to your LLC as a sole proprietor, those would be reported on a separate Schedule C of your personal tax return.

If your LLC has other members or was set up to be taxed as a corporation, you will need to file a separate Business Tax Return for that entity next year.

If you are the only member of your LLC (or just you and a spouse) you can file those income and expenses on your personal tax return, on a separate Schedule C.

Please note that there are likely other filing requirements for your State.

Please see the additional links below:

TurboTax Business Software ( you will need to wait until the 2021 Version is available to prepare 2020 Business Tax Returns)

State Departments of Revenue

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