Last season we received a K1, then my husband became sole owner. We received a 1099MISC with the company's name. Do I input it as though it has his name? Do we need a K1?

[MinhT · Accepted solution]

If your LLC has become a single-member LLC with your husband as the sole member, it is considered as a disregarded entity.

You report all income and expenses of the LLC on Schedule C of your joint return. You enter the form 1099-MISC issued to the LLC as though it was in his name. You'll not need a form K-1.

[encw]

Thank you!