I have a registered business LLC. and have made zero income on the company. How do I file my taxes when I have no income at all

[kart1976]

I am in State of TX the company is registered as an LLC. I have this as a side business and unable to generate any revenue based of COVID issues. I have a regular job on W2 that have shown on taxes towards income. Please let me know how I should report for my LLC. with no income

[JillS56]

You have indicated you had no income for your LLC for 2021.  Did you have any expenses for the LLC for 2021?   Is this a single-member LLC or multi-member LLC.   If you have a single-member LLC you would file as a disregarded entity on a Schedule C.   If it is a multi-member LLC, then it would be a Form 1065 Partnership return.  

If you had no income or expenses for 2021, then you do not have to file a return for the LLC.   If you have expenses to deduct and no income, then you would file the Schedule C or Form 1065 depending on the type of LLC you have reporting the expenses incurred by the LLC during 2021.

[kart1976]

This is a single member LLC. Is there an option to select disregarded entity while doing schedule c? Appreciate the clarity. Thanks

[JamesG1]

To report your single member LLC in TurboTax Online Self-employed,

• Go to Federal / Income & Expenses / Your Info / Self-employment income and expenses.
• Click Edit to your right of the self-employment activity.

Under your self-employment activity General Info, report the Business name, Business address and Employer ID Number (EIN).