How do I find out if my self employed turbotax account is filling me as a Single Member LLC? Also, do I need an EIN. I have no employees.

3 replies
45 views

No text available

TurboTax Self Employed Online

VolvoGirl

Level 15

Yes you file a Single Member LLC in the Self Employed version. It is a disregarded entity and you file it on Schedule C in your personal 1040 return. Unless you set it up as an S corp. then you need to file a 1120S business return.

You file it as self employment income.

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

Then How to enter self employment expenses

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-business-expenses-like-home-office-vehicle-mileage-and-supplies/00/27109

Anonymous

No EIN needed unless you have employees or are an S_corp. however, many sole-proprietors/ single member LLC's without employees do get an EIN so if they have to issue 1099's there not giving out their SSN.

AmeliesUncle

Level 15

@12309 wrote:
many sole-proprietors/ single member LLC's without employees do get an EIN so if they have to issue 1099's there not giving out their SSN.

I agree that is a good idea. However, for that purpose, get an EIN for YOU, not the LLC. When you fill out a W-9, it needs to have YOUR name and ID, not the ID of the LLC.