How do I find out if my self employed turbotax acc...
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mskrissymarie
New Member

How do I find out if my self employed turbotax account is filling me as a Single Member LLC? Also, do I need an EIN. I have no employees.

 
3 Replies
VolvoGirl
Level 15

How do I find out if my self employed turbotax account is filling me as a Single Member LLC? Also, do I need an EIN. I have no employees.

Yes you file a Single Member LLC in the Self Employed version. It is a disregarded entity and you file it on Schedule C in your personal 1040 return.  Unless you set it up as an S corp.  then you need to file a 1120S business return.

 

You file it as self employment income.

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

Then How to enter self employment expenses

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-busine...

Anonymous
Not applicable

How do I find out if my self employed turbotax account is filling me as a Single Member LLC? Also, do I need an EIN. I have no employees.

No EIN needed unless you have employees or are an S_corp.   however, many sole-proprietors/ single member LLC's without employees do get an EIN so if they have to issue 1099's there not giving out their SSN. 

AmeliesUncle
Level 11

How do I find out if my self employed turbotax account is filling me as a Single Member LLC? Also, do I need an EIN. I have no employees.


@Anonymous wrote:

 many sole-proprietors/ single member LLC's without employees do get an EIN so if they have to issue 1099's there not giving out their SSN. 


I agree that is a good idea.  However, for that purpose, get an EIN for YOU, not the LLC.  When you fill out a W-9, it needs to have YOUR name and ID, not the ID of the LLC.

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