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December 12, 2023
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LLC as a part time venture

  • December 12, 2023
  • 1 reply
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working a regular full-time job and have opened a comic book and toy store as a side gig. Do I just use schedule C or is it more involved?

    Best answer by Critter-3

    If you are a single member LLC and have not incorporated for federal income tax purposes  then you will just file a Sch C.

     

    See this TurboTax support FAQ for entering self-employment income - https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/report-income-self...

     

    See this TurboTax support FAQ for entering self-employment expenses - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-empl...

    1 reply

    Critter-3
    Critter-3Answer
    December 12, 2023

    If you are a single member LLC and have not incorporated for federal income tax purposes  then you will just file a Sch C.

     

    See this TurboTax support FAQ for entering self-employment income - https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/report-income-self...

     

    See this TurboTax support FAQ for entering self-employment expenses - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-empl...