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When you are a single member LLC you will file your business income and expenses o a Schedule C which will be included with your 1040 tax filing. You will need to be using Turbo Tax self-employed to report the business income and expenses.
When you sign into the program you will be able to add your state under the personal information tab. After that is filled out, then you will move on to the business section.
When start entering in the business information you will enter in the business profile (review this carefully, the answers you out here will help the program know what else you need to enter and generate), then move on to the business income. Once you enter the business income, then you will be taken to the inventory screen, then expenses, then assets. If you do not have inventory, you can skip this, and then you will be taken to the expense page.Still have questions?
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