Schedule C for LLC - How to report income from a foreign cooperation

Forum|Forum|5 years ago
March 28, 2021
3 replies
37 views

I have a single member LLC which does business with international cooperation. How can I report the income in schedule C? The international company does not have EIN or SSN

TurboTax Live Self-Employed Online

Best answer by MaryK4

You can enter the income as Other self-employed income (see below). No IRS form is needed for the entry in TurboTax.

When you're self-employed, you can get paid in multiple ways and also get multiple tax forms—not just a 1099-NEC.

Here are some examples of what we mean by additional income:

Income reported on a 1099-K (for credit/debit card payments)
Income not reported on a tax form
Barters and exchanges

Be sure to enter all the self-employment income you've earned, even if you didn't get a tax form. Once that's done, we can start looking into expenses you can deduct.

MaryK4Answer

Level 15

You can enter the income as Other self-employed income (see below). No IRS form is needed for the entry in TurboTax.

When you're self-employed, you can get paid in multiple ways and also get multiple tax forms—not just a 1099-NEC.

Here are some examples of what we mean by additional income:

Income reported on a 1099-K (for credit/debit card payments)
Income not reported on a tax form
Barters and exchanges

Be sure to enter all the self-employment income you've earned, even if you didn't get a tax form. Once that's done, we can start looking into expenses you can deduct.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

fallapplauseAuthor

Level 2

What can I do if I don't have EIN for the international corp which paid to the LLC in U.S.?

MaryK4

Level 15

You must enter the income as International corporations are not required to have as Other Self-Employed income. If an international corporations is not required to have an EIN you are still required to report the income.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"