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bmwnuke
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How can I enter 1099-DIV, 1099-INT and 1099-B forms for Sole Member LLC?

Hi, I'm using Turbotax Home & Business to file my Sole Member LLC and Individual tax returns.  I don't see a place to enter 1099-DIV, 1099-INT, and 1099-B form that were issued to my BUSINESS - it's only on the individual tab.  Can someone help?  Do I need to use Turbotax Business instead?  To clarify, the 1099's are issued to the business, not to me individually - these 1099's are related to my business brokerage accounts.

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3 Replies

How can I enter 1099-DIV, 1099-INT and 1099-B forms for Sole Member LLC?

Your LLC is connected with your personal return so report that income in the personal tab. Since your EIN is associated with your Social Security number there is no problem. 

How can I enter 1099-DIV, 1099-INT and 1099-B forms for Sole Member LLC?

Is your SMLLC  an S corp?  If it is not an S Corp it is a disregarded entity and you file it on schedule C in your personal 1040 return.  The Home & Business program only does 1040 returns that need Schedule C for self employment, independent contractors, freelance and SMLLC.  You enter  your 1099s on the Personal Income  side.  Or is your SMLLC for trading?  I don't know how that works if you want to file them on Schedule C.  

How can I enter 1099-DIV, 1099-INT and 1099-B forms for Sole Member LLC?

if you have an S-corp the dividends and interest income are still report as such on the 1120-S expenses are reported on page 1. without the MTM election trading gains and losses are reported on the 8949/schedule D. the same is true if you have not elected S-Corp status, the dividends and interest are reported on the 1099-DIV or INT.  a trader reports trading expenses on schedule C. Without th emTM election trades go on schedule D/form 8949.  Note that direct expenses of buying and selling securities are part of the gain or loss. such as brokerage commission, exchange fees

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