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lionelluu
Returning Member

First time business tax filling

Hello,

 

I have a small catering business and I have filed my personal income tax (Delux) prior to filling my small business with is a sole propriety LLC. I have purchased a home and Business turbo tax ti file the business tax. How should I proceed?

 

Thanks.

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1 Reply
JotikaT2
Employee Tax Expert

First time business tax filling

It depends.

 

Did you already file a 2019 individual tax return?  If so, you will need to wait until that return is accepted and then will need to prepare an amended return. You would need to amend as a single member LLC is reported on your federal return as a Self-Employed business.

 

Amend return

 

If you have not yet filed a return for 2019 and are in the process of entering all of your information, you will be able to enter your Self-Employed business income in the Business tab in the program.

 

Select Walk me through everything

 

TurboTax will proceed to ask you information about your business, address,type of business, etc. 

 

It will also allow you to enter your income and expenses.  

 

Just follow through the screens to enter you information and prepare your return.

 

You will be able to enter any other items not related to the business in the Personal tab.

 

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