turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

OBAAT
New Member

1099K with EIN, but I am a single entity LLC

Stripe stated they will be sending a 1099K with my business EIN, but I am a single entity LLC and I file using my SSN on Schedule C. Do I need to have the 1099K under my SSN? 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

5 Replies

1099K with EIN, but I am a single entity LLC

NO an SMLLC can have an EIN.  some use it to avoid having to give their SSN to suppliers but generally, you need a business bank account to get an EIN.

OBAAT
New Member

1099K with EIN, but I am a single entity LLC

But will I run into issues with tax reporting when the 1099 has the EIN but I don't use that as a SMLLC

1099K with EIN, but I am a single entity LLC

The 1099 should be issued to YOU, using either your SSN or the EIN for YOU (not the LLC's EIN, which is only used for payroll or excise taxes).

1099K with EIN, but I am a single entity LLC

OK ... FYI ...  when you GOT the EIN for the SMLLC  you linked it to your SS# (remember doing that on the SS-4 form ?)  and then on the Sch C you file BOTH the EIN & SS# are listed on it  so any 1099 issue to either number are automatically linked to that very Sch C.  There is no issue to deal with ... you did everything correctly.  

Carl
Level 15

1099K with EIN, but I am a single entity LLC

It does not matter if the tax reporting document received has your SSN or EIN on it. Since the IRS issued you the EIN, they already know what SSN that EIN is tied to. Just enter the tax reporting document exactly as printed.

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question