Single member LLC's are reported on your personal income tax return, Schedule C. The TurboTax programs you may use to file your income tax return, are the following:
Note: The higher the version, the more step-by-step guidance you'll receive.
You'll be able to deduct expenses, if they're directly related to the work you do. Work-related expenses reduce your taxes by lowering the amount of self-employment income you get taxed on. Click here for additional information.
- For example, if you made $50,000 in self-employment income and had $5,000 out-of-pocket expenses, you'd only get taxed on $45,000.
For state-specific questions regarding your work, click here to find your state’s Department of Revenue.
Additional information: Where do I enter Schedule C?
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