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I started an LLC this year, but did not conduct any business through it! How do I file, or do I not need to?

 
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KrisD15
Employee Tax Expert

I started an LLC this year, but did not conduct any business through it! How do I file, or do I not need to?

Yes, If you registered with the sate to establish the LLC, the LLC should file a tax return. 

 

An LLC must also be a tax entity such as a Partnership, S-Corp, or Sole-proprietorship.

You tax entity determines the type of tax return that is used.

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3 Replies
KrisD15
Employee Tax Expert

I started an LLC this year, but did not conduct any business through it! How do I file, or do I not need to?

Yes, If you registered with the sate to establish the LLC, the LLC should file a tax return. 

 

An LLC must also be a tax entity such as a Partnership, S-Corp, or Sole-proprietorship.

You tax entity determines the type of tax return that is used.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I started an LLC this year, but did not conduct any business through it! How do I file, or do I not need to?

It says that as a sole proprietor, I have to file jointly with my personal taxes, but I did not include it when I filed. Is there a way to file it separately??

SharonD007
Employee Tax Expert

I started an LLC this year, but did not conduct any business through it! How do I file, or do I not need to?

No, you can't file a Single Member LLC separately from your individual tax return. You can amend your tax return when your tax return is fully processed, which means you have received your refund or if you have a balance due, it's deducted from your account. If your tax return is pending, don't make any changes. 

 

When you are ready to amend your tax return, you will add your LLC business on a Schedule C.

 

For more information and instructions, review the TurboTax articles How to Correct Federal Tax Returns, How to File an Amended Tax Return with the IRS and Video: How to Amend Your Tax Return.

 

Refer to the TurboTax articles Where do I enter Schedule C?, How do I report income from self-employment?, and What self-employed expenses can I deduct? 

 

Also, you can review the TurboTax articles LLC Tax Filing Rules and Limited Liability Company Taxes for more information regarding LLCs.

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