Hello,
I worked a full-time job and started a single-member LLC business in 2024 (I work independently with no workers; no S Corp or partnership etc). I paid more in expenses than I made in income. I am aware that I can file both my personal (1040) and business taxes together but I am unsure if I can add in my business expenses and income earned if I file using the deluxe. I used the deluxe version on TurboTax for the past 9 years and wondering if I can login as I normally would to file my personal taxes would the deluxe give me the opportunity to file my business taxes as well in one setting and being able to include my expenses and how much I earned? Thank you!
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Because your business is a single-member LLC, your profits and losses are reported on your Schedule C. You can use TurboTax Home and Business (Deluxe doesn't support expenses for Schedule C).
Refer to the TurboTax articles Where do I enter Schedule C?, How do I report income from self-employment?, and What self-employed expenses can I deduct?
Also, you can review the TurboTax articles LLC Tax Filing Rules and Limited Liability Company Taxes for more information regarding LLCs.
Edited [2/4/25|6:39PM PST]
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