When to use EIN or SSN for single member LLC?

[Taxathrone]

@Mike9241 -- right, and I do understand that. In the section above it says "NOTE: You may request an EIN for banking or state tax purposes, but an EIN is not required for federal tax purposes." That's why I requested an EIN for my LLC (I needed it to open a business bank account), as I explained in my post above. My question is about this:

I've received a 1099-INT in the LLC's name and LLC's EIN from my bank--per the IRS that "a single-member LLC classified as a disregarded entity generally must use the owner's social security number (SSN) or employer identification number (EIN) for all information returns and reporting related to income tax," do I actually need to request that the bank reissue the 1099-INT in my name and SSN or EIN?

[shenk]

Hello. Can I please get clarification on using the SSN vs EIN? I have an S-Corp that the 1099's were made out with my SSN. Can I file these on my 1120-S as they are or do they need to be made out to my EIN?

[VolvoGirl]

1099 that you issued to people or that you received?

[shenk]

That was received.

[shenk]

The 1099 was received with my SSN and not my EIN. Can I still use this on my 1120-S?

[Kandyrob]

One of my businesses used my ssn but it’s a 1099 can I file with the ein. This is first time filing I don’t want to file with my ssn. 

[JamesG1]

Have you received a 1099 and want to file it under an EIN?  Do you have an EIN assigned to your LLC?  Please clarify.

This IRS website states:

For income tax purposes, an LLC with only one member is treated as an entity disregarded as separate from its owner, unless it files Form 8832 and affirmatively elects to be treated as a corporation. 

The LLC is a disregarded entity unless you have filed IRS form 8832 and affirmatively elect to be treated as a corporation.

If the LLC is a disregarded entity, that means that you file the income on Schedule C of your personal Federal 1040 tax return and report the EIN number on Schedule C.

@Kandyrob

[Kandyrob]

Thank you so much for responding. Yes I get a 1099 as a broker, and I have an llc and ein already for it. Can I file with my llc and ein even if they used my ssn in the 1099?

[cparke3]

Not clear what you're asking.  Are issuing the 1099 or receiving it?  If issuing the 1099, I used the EIN for the disregarded LLC as the payer, even though instructions seem to expect my SSN to be used.  Not sure what IRS could do to me for that.

Similarly, when the disregarded LLC was the 1099 recipient, I gave the payer the EIN on the W-9 even though the instructions say to use SSN.  I don't think anyone had a problem with that, and the 1099 did get filed on my SSN account anyway even though it displayed the EIN.

[Kandyrob]

Reciepient and I think you answered my question so thank you! 

[BrittanyS]

Yes, you can report the 1099 on the Schedule C for the LLC.  The IRS looks for the business owner's SSN or EIN when receiving a 1099 form.  However, the IRS is matching income to the return.  If you choose to use the LLC's EIN, you may receive a follow-up from the IRS requesting information to ensure the income was reported properly.  

Be sure to maintain accurate records to show the income was received and reported on your tax return.  

@Kandyrob