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Sole proprietor to a single member LLC in October 2015. Most of the 1099-MISC income I received is under my own name and SSN. Can I still add them under the new name?
sole proprietor to a single member LLC in October 2015. Most of the 1099-MISC income I received is under my own name and SSN because I converted to LLC in October.
Here are the things that I know from some of the answers to sole proprietor to a single member LLC questions :
"A single-member LLC is what's known as a disregarded entity for tax purposes. If the business activity you're doing hasn't changed, then just continue to report income and expenses as Business items on your personal return just as you always have. You may want to change the Name of your business to reflect the new LLC name, and you should enter the EIN for the LLC as your business LLC. But other than that, nothing changes in how you report it."
but if I update the name of the LLC and add the EIN number then how do I report most of the 1099-MISC income I received which is under my own name and SSN for the business form the months before the LLC was formed?
Here are the things that I know from some of the answers to sole proprietor to a single member LLC questions :
"A single-member LLC is what's known as a disregarded entity for tax purposes. If the business activity you're doing hasn't changed, then just continue to report income and expenses as Business items on your personal return just as you always have. You may want to change the Name of your business to reflect the new LLC name, and you should enter the EIN for the LLC as your business LLC. But other than that, nothing changes in how you report it."
but if I update the name of the LLC and add the EIN number then how do I report most of the 1099-MISC income I received which is under my own name and SSN for the business form the months before the LLC was formed?
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May 31, 2019
5:36 PM