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Level 2

Question

Terminated Single Member LLC - How to file schedule C?

Forum|Forum|6 years ago
October 1, 2019
1 reply
0 views

Hello, I recently terminated my single-member LLC...So, part of the year's earnings are under the LLC and EIN, and the other part's earnings are simply going to be under my name and SSN.

If a disregarded entity, does it matter how I report? Or must I do something like file separate schedule Cs, etc.?

Level 15

How you handle this situation is actually up to you and makes virtually no difference unless you have employees. Otherwise, your EIN is tied to your SSN so there is no untoward impact.

Level 15

Unless your LLC was incorporated .... if so you will file a final corp return and then use the Sch C for the rest of the year.