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New Member
posted Nov 6, 2023 2:40:45 PM

Vending machine Business tax file

Hi. I bought 4 machine and formed a single member LLC in 2023. Which version of software should I choose to use if I want to file personal and business at the same time ?

Please help

Thank you.  

0 3 1967
3 Replies
Level 15
Nov 6, 2023 2:49:55 PM

What kind of LLC?  Is it a Single Member LLC that is a S corp?  Then you need to file a separate 1120-S business return.

 

If you are a Single Member LLC that is not a S corp it is a disregarded entity and you file it on Schedule C in your personal tax return as self employment income.

 

You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to Premium or the Self Employed version.  Or use any of the Desktop CD/Download programs.

 

 

How to enter income from self employment

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

New Member
Nov 6, 2023 2:56:42 PM

Its just single member LLC and no employees, and yes I will have some expenses to enter such as vending machine cost.  forming LLC cost and supply cost (snacks, drinks, candy) and some mileages as well.

 

Will Home & Business (also says personal & Self-employed in a small letters) version works for me ?

 

 

Level 15
Nov 6, 2023 3:08:01 PM

Yes Home & Business will work.   Actually any Desktop program.   All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.