will10
New Member

Trouble reporting business income

Do I need to file a separate return for my LLC?
LinaJ2018
Intuit Alumni

Get your taxes done using TurboTax

What kind of LLC ?  partnership ?  corporation ?
will10
New Member

Get your taxes done using TurboTax

Individual single member LLC
LinaJ2018
Intuit Alumni

Get your taxes done using TurboTax

See answer below
LinaJ2018
Intuit Alumni

Get your taxes done using TurboTax

No, you do not need to file a separate return other than a Form 1040.  The TurboTax Self-Employed version will cover all your situation.  For a single member LLC, you will need to file a Schedule C to report your business income and expenses and a Schedule SE to pay self employment tax. As you enter the information in the program, it will create a Schedule C and SE.  Then the net profit from the Schedule C will be transferred to Form 1040 line 12 and the SE tax will be calculated and shown on line 27 and 57.