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Should I use Business or Self Employed, I started self employed and have a LLC but it seems as if I should use Business. If so, how can I transfer data to it from Selfemp

 
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2 Replies
ChristinaS
Expert Alumni

Should I use Business or Self Employed, I started self employed and have a LLC but it seems as if I should use Business. If so, how can I transfer data to it from Selfemp

Is your LLC 2 or more people?

If so, use Business and file a partnership return.

Is it just you?

File Self-Employed, as the LLC uses Schedule C on your personal return.

Regardless of above, has your LLC elected to be taxed as a corporation?

If so, use Business and file a corporation tax return.

ChristinaS
Expert Alumni

Should I use Business or Self Employed, I started self employed and have a LLC but it seems as if I should use Business. If so, how can I transfer data to it from Selfemp

You can't transfer the data, but an LLC doesn't suddenly go from a personal return to an entity return... so lets make sure you get the right info first.
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