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Level 2
posted Apr 10, 2024 10:33:39 AM

Single Member LLC

Turbo tax asks if you started a business, well yes I did, I started a single member LLC, so do I click yes? If I click yes, it wants my business name and EIN, however I know that a single member LLC files taxes on my personal return? So should I select No, that I didn't start a business? As then my profile/taxes are filed under my name/SSN? 

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1 Replies
Employee Tax Expert
Apr 10, 2024 10:35:59 AM

Yes, you will say yes. A business name and EIN is optional. If you do not enter a business name or EIN, your name and Social Security number will be used.

 


Even though it is filed on a Schedule C in your personal return, you could have a business name or EIN, but they are not required.