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sna813
New Member

I'm married and started a small business (LLC). We file a joint. return. will I need a separate tax, or will the sched c take care or the business tax?

 
2 Replies
rjs
Level 15
Level 15

I'm married and started a small business (LLC). We file a joint. return. will I need a separate tax, or will the sched c take care or the business tax?

Is it a single-member LLC or multi-member?
If it is multi-member, are you and your spouse the only members? If so, what state are you in?
Has the LLC filed Form 8832 to elect to be treated as a C corporation or Form 2553 to elect to be treated as an S corporation for tax purposes?
Carl
Level 15

I'm married and started a small business (LLC). We file a joint. return. will I need a separate tax, or will the sched c take care or the business tax?

If you and you alone are the owner of the business, then all business income/expenses is reported on SCH C as a part of your personal tax return. Period. It doesn't matter if you file a joint return either. You'll see as you work through the program, that all business income/expenses are credited to you, and you only, as the sole owner of the business.

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