Solved: I freelanced last year and started an llc on 12/29...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

I freelanced last year and started an llc on 12/29/20.... for tax purposes, should I have waited to start the llc on 1/1/21?

I'm filling for an EIN and it's asking for the formation date which is 12/29/20, but I won't start doing business under the new LLC until 2021.
1 Best answer

Accepted Solutions
Level 15

I freelanced last year and started an llc on 12/29/20.... for tax purposes, should I have waited to start the llc on 1/1/21?

A business income tax return (federal, on a Schedule C, for a single-member LLC) is not required to be filed until the business begins operations.

 

Obviously, you still have to file your individual income tax return (e.g., 1040).

View solution in original post

1 Reply
Level 15

I freelanced last year and started an llc on 12/29/20.... for tax purposes, should I have waited to start the llc on 1/1/21?

A business income tax return (federal, on a Schedule C, for a single-member LLC) is not required to be filed until the business begins operations.

 

Obviously, you still have to file your individual income tax return (e.g., 1040).

View solution in original post

Dynamic Ads
v
Privacy Settings