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Can I report my new sole member LLC on Schedule C of my personal joint return, or must I file a separate Business return?

 
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Anonymous_
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Can I report my new sole member LLC on Schedule C of my personal joint return, or must I file a separate Business return?

Single-member LLCs are disregarded entities for federal income tax purposes and report on Schedule C (unless an election is made for the LLC to be treated as a corporation).

 

Otherwise, you do not have to file a separate business return with the IRS.

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1 Reply
Anonymous_
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Can I report my new sole member LLC on Schedule C of my personal joint return, or must I file a separate Business return?

Single-member LLCs are disregarded entities for federal income tax purposes and report on Schedule C (unless an election is made for the LLC to be treated as a corporation).

 

Otherwise, you do not have to file a separate business return with the IRS.

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