I was operating business as a sole proprietorship since the beginning of the year, then in April/May established an LLC then mailed election form to IRS to be taxed as an S-Corp. I use PayPal for my business. it has my Social security number where I get the 1099k tax document the end of the year. My confusion is I added EIN to my PayPal account to start operating as a business in July and when I asked PayPal they said I would only get one 1099k with my EIN or social security number. I won't get 2 separate ones, one with social security and then the other one when I started operating as a business and added EIN.
I operated as sole proprietorship jan to June . then in July I added EIN to my PayPal and got on payroll and totally separating expenses business and personal. I established the LLC in April/May. When it comes to taxes do I need to separate the time that I was operating as a sole proprietorship(Jan to June) from the time I added EIN to my PayPal in July and started operating as business given the fact that PayPal gone give me one 1099k not 2. also how do I know if IRS accepted my Election form as its been over 4 months and haven't received any confirmation. Thx
