turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Should we file a taxes for my wife's single member llc. She has no expenses, or monies from this llc

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
JulieCo
New Member

Should we file a taxes for my wife's single member llc. She has no expenses, or monies from this llc

Single member LLC's are treated like sole proprietors by the IRS and the activity for the business is included on her (or your joint) personal tax return on Schedule C, E or F (depending upon the type of business).  There is not a separate return done for the single member LLC.  If there was no activity for the business during 2018, then you do not need to include it anything for it on your return.  See more information from the IRS below:

If a single-member LLC does not elect to be treated as a corporation, the LLC is a "disregarded entity," and the LLC's activities should be reflected on its owner's federal tax return. If the owner is an individual, the activities of the LLC will generally be reflected on:

An individual owner of a single-member LLC that operates a trade or business is subject to the tax on net earnings from self employment in the same manner as a sole proprietorship. Single Member Limited Liability Companies | Internal Revenue Service

Also, see this per the IRS: 

If your sole proprietorship business has no profit or loss during the full year, it's not necessary to file a Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship) for that year.  Schedule C & Schedule SE 2 | Internal Revenue Service - IRS.gov





message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies