My business LLC closed in December 2016. How do I report this on Schedule C?

Nessa613 · ‎June 5, 2019

MinhT · ‎June 5, 2019

Yes, you'll need to report if your LLC had income and/or expenses in 2016.

If your LLC is a single member LLC, you can report it on Schedule C using TurboTax Self-Employed.

Otherwise, if the LLC had more than one member, you will have to file a partnership return (Form 1065) using TurboTax Business (only available as CD/Download, and for Windows only).

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View solution in original post

MinhT · ‎June 5, 2019

Yes, you'll need to report if your LLC had income and/or expenses in 2016.

If your LLC is a single member LLC, you can report it on Schedule C using TurboTax Self-Employed.

Otherwise, if the LLC had more than one member, you will have to file a partnership return (Form 1065) using TurboTax Business (only available as CD/Download, and for Windows only).

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

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My business LLC closed in December 2016. How do I report this on Schedule C?