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If my business is a pass-through entity, does my 1099 income from before I filed my llc count toward my businesses' income if it was in the same tax year?
I earned quite a bit in 1099 income in January, but my single-member LLC filling didn't go through until February. Do I consider that business income or not?
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If my business is a pass-through entity, does my 1099 income from before I filed my llc count toward my businesses' income if it was in the same tax year?
Yes. A single memberLLC is by default a disregarded entity and is treated just like your sole proprietorship. You can include both of these on the same Schedule C.
*A reminder that posts in a forum such as this do not constitute tax advice.*
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If my business is a pass-through entity, does my 1099 income from before I filed my llc count toward my businesses' income if it was in the same tax year?
Yes. A single memberLLC is by default a disregarded entity and is treated just like your sole proprietorship. You can include both of these on the same Schedule C.
*A reminder that posts in a forum such as this do not constitute tax advice.*
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