Should I use schedule E or schedule C to report income & expenses for a new single person LLC?

gordeen · ‎June 1, 2019

the LLC is for royalty properties.

PaulaM · ‎June 1, 2019

Schedule E is for rentals and royalties. Schedule C is for business income/expenses. If you are receiving royalties, then record under the Schedule E.

If you are in the business of producing income that provides a royalty (books, creative works, oil/gas operation) then enter on a Schedule C.

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PaulaM · ‎June 1, 2019

Schedule E is for rentals and royalties. Schedule C is for business income/expenses. If you are receiving royalties, then record under the Schedule E.

If you are in the business of producing income that provides a royalty (books, creative works, oil/gas operation) then enter on a Schedule C.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Should I use schedule E or schedule C to report income & expenses for a new single person LLC?