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Sole LLC Disregarded Entity

Very elementary question here.  My first time filing a Single Member LLC as a Disregarded entity for a Rental House.  How does that work on the tax return?  I know that the Sch E files the same if in my own name.  Does the LLC name of the EIN number appear anywhere on the Sch E?

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Accepted Solutions
AmyC
Expert Alumni

Sole LLC Disregarded Entity

No. Instructions for Schedule E (Form 1040) state: 

Single-member limited liability company (LLC).

In most cases, a single-member domestic LLC is not treated as a separate entity for federal income tax purposes. If you are the sole member of a domestic LLC, file Schedule E (or Schedule C or F, if applicable). However, you can elect to treat a domestic LLC as a corporation. See Form 8832 for details on the election and the tax treatment of a foreign LLC.

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2 Replies
AmyC
Expert Alumni

Sole LLC Disregarded Entity

No. Instructions for Schedule E (Form 1040) state: 

Single-member limited liability company (LLC).

In most cases, a single-member domestic LLC is not treated as a separate entity for federal income tax purposes. If you are the sole member of a domestic LLC, file Schedule E (or Schedule C or F, if applicable). However, you can elect to treat a domestic LLC as a corporation. See Form 8832 for details on the election and the tax treatment of a foreign LLC.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Sole LLC Disregarded Entity

I think this also answers my very similar question.  I just want to verify I got it right.  I put my single entity LLC EIN info in TurboTax.  A 1099-NEC was issued to that EIN.  The data was transferred to a Schedule C but shows the SS # not the EIN on the top right of the schedule C.  No EIN is shown.  Is this correct? 

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