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- How do I report a single member LLC on an individual tax return ?
How do I report a single member LLC on an individual tax return ?
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GPEARCE
Level 1
08-31-2022
07:23 PM
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does a single member lllc owner file a Schdeule C with his form 1040?
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2 Comments 2
sjrcpa
Level 15
08-31-2022
08:25 PM
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If the activity of the LLC is one that would go in a Schedule C if the individual performed it, yes.
Could also be rental on Schedule E or a Farm on Schedule F, etc.
Ex-AllStar
abctax55
Level 15
08-31-2022
08:35 PM
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And beware of any state filing required for a single member LLC....depends on your state.
CA requires a Form 568 & at least an $ 800 minimum tax payment (and possibly an LLC fee depending on gross receipts). Y(S)MMV <w>
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