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posted Jun 4, 2019 8:14:31 PM

Do I need to file form 1120?

I am the sole managing member of an LLC and all of my business expenses can be recorded on my personal tax return.

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Level 7
Jun 4, 2019 8:14:32 PM

No.  If your LLC is a single-member LLC and you have not elected a different tax treatment, then it is considered a disregarded entity and you can use a Schedule C to record your business income/expenses.  This means you file a Form 1040 and Schedule C and you do NOT need to file a Form 1120.

1 Replies
Level 7
Jun 4, 2019 8:14:32 PM

No.  If your LLC is a single-member LLC and you have not elected a different tax treatment, then it is considered a disregarded entity and you can use a Schedule C to record your business income/expenses.  This means you file a Form 1040 and Schedule C and you do NOT need to file a Form 1120.