It's not a single member LLC if it has two members.
Unless you live in a community property state, the LLC must file a separate partnership return form 1065 to report the income and expenses of the LLC. Each member get a K-1 statement to report their share of income and expenses on their personal return. Form 1065 is due March 15, and the late fee is $195 per month per member. Form 1065 can only be prepared using Turbotax Business (not Home & Business) which is only available as CD or download to install on your own PC, there is no Mac or online version.
If you live in a community property state, you must file two separate schedule Cs, one for each spouse, listing half the income and half the expenses.
