Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 31, 2019 5:52:45 PM

Changed from sole proprietor to llc mid year, how do i file

0 4 4360
4 Replies
Level 15
May 31, 2019 5:52:45 PM

Are you the only LLC member?

Level 13
May 31, 2019 5:52:49 PM

For federal income tax purposes, a single member LLC is a disregarded entity.  As such, nothing really changed for federal income tax purposes.  Both will be reported on a Schedule C.

New Member
Jul 29, 2019 8:05:59 AM

How about if they elect to be taxed as an SCorp. Do they file as sole pro for mid year and then 1120S? Or do they file 1120S for entire year?

New Member
Sep 25, 2019 2:26:42 PM

Correct, they would do a partial sch c, then file an S corp with a short fiscal year. It determines what is appropriately taxed for SE. Incorporating mid year then lumping all on s corp is akin to not taking reasonable compensation. Dont forget partial year w-2 from s corp.

Cheers