How Do I File and is Home & Biz + State (MD) Tax Software Correct?

fabrochu · ‎June 15, 2020

I am a Maryland based military retiree, collecting SS with a home-based Sole-proprietor LLC which has generated expenses, but no revenue, how do I file?

My only income is from my Military Pension and Social Security (I am 65). I started a Home-based LLC (Freelance Consultant) which has generated expenses, but no revenue. How do I file?

Is the Home & Business + State (MD) Tax Software Correct for me?

Thank you.

TomD8 · ‎June 19, 2020

A single-member LLC is treated by the IRS as a Sole Proprietorship. Sole Proprietorships report their income and expenses on Schedule C, which is included in TT Home & Business. So you have the appropriate TT package.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

fabrochu · ‎June 19, 2020

Thank you for responding.

How Do I File and is Home & Biz + State (MD) Tax Software Correct?

Tax help for military filers

Tax help for military filers