turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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.

Aliveset
New Member

How to Change the IRS Classification from LLC Multimember to LLC Single Member

I started my LLC in Texas in mid-October of this year (2024). I mistakenly classified my LLC as a multi-member LLC with the IRS and would like to correct it to a single member this year. What steps do I need to take? How do I complete Form 8832?

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.

1 Reply

How to Change the IRS Classification from LLC Multimember to LLC Single Member

If the LLC was never a multi-member LLC, nothing needs to be done.

 

If you merely applied for an EIN and accidently said it was a multi-member LLC, that isn't a big deal.  In the unlikely event the IRS sends you a notice asking about a Partnership return (Form 1065), just respond that it never was a Partnership (it was always a sole owner and you reported it on Schedule C).

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies