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