My husband had an LLC this last year that he didn't really do anything with (minor expenses, no profit). Do we file with our regular return or separate returns for LLC?

[turtletan]

Do we file with our regular joint return ....or separate returns for the LLC?  Also, he didn't really do anything with the business...do we still have to file?

[PatriciaV · Accepted solution]

If the LLC is a single member entity, you should file form Schedule C as part of your personal tax return. If you have any income or expenses for your LLC, choose TurboTax Self-Employed. However, if you had no activity and did not receive an Employer Identification Number (EIN) for this LLC, you are not required to include Schedule C this year.

If you have elected to be taxed as an S-Corp, you will need to file a separate return for this entity (Form 1120-S, available in TurboTax Business).

If it is a multiple member LLC, you should file a separate Partnership/S-corporation return (Form 1065 or 1120-S). TurboTax Business is a stand-alone desktop product that can create a return for an LLC owned by more than one member.