LLC Question

Mrpowell6302 · ‎March 3, 2019

Hello everyone, I forgot to add my llc to my tax return and I'm freaking out because I have no idea how to fix it. I didn't make any money for my business last year so I assumed I didn't have to. Well that was incorrect and I'm hoping someone can walk me through what has to be done now. Please.

HollyP · ‎March 7, 2019

Are you a single member LLC or multi-member LLC?

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Mrpowell6302 · ‎March 7, 2019

Single member. I've done some digging and it turns out the state of MD requires you to file even if you made no money. It's a 300 dollar fee. Ouch

HollyP · ‎March 7, 2019

Okay, no problem! You'll need to file an amended return, Form 1040X and Maryland Form 502X to report your LLC info on a Schedule C. If a single-member LLC does not elect to be treated as a corporation, the LLC is a "disregarded ent...

Please follow the instructions in our article: I need to amend my state return - TurboTax® Support.

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LLC Question

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