KrisD15
Expert Alumni

Business & farm

You filed as a Partnership for 2024 since the LLC had two (or more) members and you were setup as a Partnership. 

 

For 2025, you can no longer be a Partnership with only one member, so you need to change the tax entity. You can setup an S-Corp or file as a Sole-Proprietorship. 

If you choose to file as a  Sole-Proprietorship, you will file Schedule C as part of your personal federal return. 

 

You will probably need to dissolve the LLC with the state and transfer the assets to your new business. How that works is regulated by the state. 

 

HERE is a link from the IRS but you will want to get local legal advice as well. 

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