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Business & farm
If this is a single member LLC and no S-corp. election made, you will report all income and expenses on your personal return under Self Employment Income. That means you will file taxes next year. You might want to take a look at estimated quarterly tax payments to see if you need to make any estimated payments to IRS and/or state.
Estimated taxes | Internal Revenue Service (irs.gov)
If it is a multi member LLC, you will file form 1065 (Partnership return) and then report income your personal return from Schedule k1 from partnership.
‎August 28, 2024
10:08 AM