So here is what you have to do.
1) Be an ACTIVE participant in the LLC
2) Acquire a TIN / EIN for the LLC
3) Make sure the LLC files a 1065 using its TIN
4) Using the K-1 produced for each member take your profit / (loss) what ever that number is and add it to your other income, (wages etc.) on your 1040
This is fairly straight forward. Note this does not apply if you are a passive member of your LLC.
