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Can a sole proprietor utilize one EIN for two businesses

lbones
Level 5

I have a client that has been in the lawn maintenance business for several years. He has just informed me that this year he has started an additional business to clean and service garbage bins.  He informed me that he is using the same EIN for both businesses.  Both businesses use the same address.  Is this acceptable and if so, I am assuming that it should be two separate Sch C's.

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TaxGuyBill
Level 15

Yes, the EIN can be used for more than one business.

Yes, two different businesses generally should be on two separate Schedule Cs.

 

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1 Comment 1
TaxGuyBill
Level 15

Yes, the EIN can be used for more than one business.

Yes, two different businesses generally should be on two separate Schedule Cs.