wethepeople
Level 3

My  client is single and self employed. He filed Schedule C in 2018, but in 2019 formed an LLC with himself as the only Manager.

He received several Forms 1099-MISC from his customers in  the LLC name and EIN for 2019.

I trust he can use the same Schedule C  with the only change being to report the LLC name on Line C and the EIN on Line D.  Is this correct?

Also, he opened a checking account in the name of the LLC with their EIN and the bank gave him a bonus of $300.00 which they reported to him on Form 1099-INT for 2019.

Does this get reprted on Schedule B as interest income even though the EIN is different from his social security numer?

Thanks.

 

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