Sole Proprietor LLC

[smc20071961]

I have a LLC /Sole Proprietor business that I setup in 2019.  I purchased TurboTax Home and Small Business.  When I setup Business type I select Sole Proprietor since LLC is a legal classification and not a tax classification.  I am the only employee, I receive a 1099-Misc.  When I continue to setup the Sole Proprietor it takes me to setting up W2's for my employees which I have none.  I thought I could continue past but keeps prompting to setup my employees.  How do I get past this and am I right that I should setup as a Sole Proprietor and not Partnership/LLC?

[VolvoGirl · Accepted solution]

Sounds like you started a new return to prepare W2 & 1099Misc.  You need to start a new Individual tax return.  Go up to File-New and you should get 2 choices.  Pick the first choice.

Did you set up your Single Member LLC as an S corp?  Then you need to use Turbo Tax Business which is separate from Home & Business.  If you are not an S Corp you file your sole proprietor on schedule C in your personal 1040 tax return.

You are using the Home & Business version and not the separate Business version, right?

[smc20071961]

I started to setup as an S-Corp but was advised that was not necessary so I never completed the filing.

i have the home and business version.

i will back out and setup individual tax return instead.

thanks

[JohnNittolo]

Can you please help me with the proper form I am a sole proprietor business Not a LLC looking for a schedule C form as well

[Critter]

To get to Schedule C in TurboTax Home & Business program :

1. Go to "Business" at the top of the screen

2. Select "Continue" then "I'll choose what I work on"

3. Select "Start" next to "Business Income and Expenses"

4. Proceed to enter your business information and answer the interview questions

5. When you get to the "Your Business" page: Business Profile, Business Income and Expenses, Inventory/Cost of Goods Sold etc., this is Schedule C