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Level 1
March 17, 2020
Solved

Sole owned LLC business.

  • March 17, 2020
  • 1 reply
  • 12 views

In the past years I have been advised that an LLC is the same as my personal tax return and can be added as showing income and expenses. This does not require producing a K-1. This year the review in Turbo Tax keeps asking for a K-1, which I don;'t have.

    Best answer by Anonymous_

    Enter your income and expenses on Schedule C (as you have been doing in past years) and follow the instructions at the link below to delete the phantom K-1.

     

    https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-delete-a-k-1/00/26655

    1 reply

    Level 15
    March 17, 2020

    Enter your income and expenses on Schedule C (as you have been doing in past years) and follow the instructions at the link below to delete the phantom K-1.

     

    https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-delete-a-k-1/00/26655