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aaarr
New Member

Where do i enter 1099b information for an llc

i had stock trading losses in a single member LLC account. where do I enter the 1099b information?

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AmandaR1
New Member

Where do i enter 1099b information for an llc

You would enter your 1099-B in the same investment sale section, as any personal investment sales. To enter within your return, search in the top right box for 1099-B and select the first Jump too link that results. 

The Single Member LLC is a disregarded entity for tax purposes and defaults to be taxed as it's single owner/member.  This means the IRS did not make a form for the LLC and you report the activity, as you would for yourself. Business activity is reported under self-employment, rental activity under rentals and investment activity under investment.  

This gives you the best of both worlds because you have a separate entity for legality but you don't have the added tax requirements.  Note: if your LLC has more than one member, then this does not apply.

See this info at the IRS here: https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-compan...

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1 Reply
AmandaR1
New Member

Where do i enter 1099b information for an llc

You would enter your 1099-B in the same investment sale section, as any personal investment sales. To enter within your return, search in the top right box for 1099-B and select the first Jump too link that results. 

The Single Member LLC is a disregarded entity for tax purposes and defaults to be taxed as it's single owner/member.  This means the IRS did not make a form for the LLC and you report the activity, as you would for yourself. Business activity is reported under self-employment, rental activity under rentals and investment activity under investment.  

This gives you the best of both worlds because you have a separate entity for legality but you don't have the added tax requirements.  Note: if your LLC has more than one member, then this does not apply.

See this info at the IRS here: https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-compan...

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