I created a single member LLC in 2019. The LLC did not conduct any business and did not have any income or loss.
I am using TurboTax Premier. How do I handle this situation in TurboTax?
Do I need to file any specific schedule?
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as long as the LLC did not elect to be taxed as an S-Corp, since no activity was conducted no form has to be filed in 2019. you didn't specify what the activity is but for future years, again assuming no S-Corp. schedule E would b used to report rental activities and schedule C for most other activities.
Thanks for your response. The LLC did not elect to be taxed as an S-Corp. The purpose of the business was Other. The principal product/services was Investing.
There is no need to file anything for Federal, but some States (such as California or Texas) have requirements for filing something for the State for the LLC.
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