Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Can I enter a single member llc, into Form 1040?

mcardellocpacfp
Level 2
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

4 Comments 4
Just-Lisa-Now-
Level 15
Level 15

SMLLC's use Sch C that is included with a 1040, is that what you're asking?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
abctax55
Level 15

SMLLC's can also be rentals; to generate Sch E, that's Screen 18.

IF, as Lisa commented, it's a Sch C, that's Screen 16.

Then there's the random Farm, Sch F  (that would be Screen 19).

And bonus question of the day - what state?

 

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
abctax55
Level 15

AND... are we safe assuming this SMLLC didn't elect to be treated as some other kind of taxable entity?

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
George4Tacks
Level 15

Yes. Here is a helpful link https://proconnect.intuit.com/community/help-articles/help/lacerte-individual-smllc-frequently-asked... AND, surprise, surprise, the links within in it are not broken!

If you have a different state, come back and share that with us.


Here's wishing you many Happy Returns