If I had a W-2 from a co, but also received a 1099 for rental equipment am I able to report the 1099 through my LLC even though it was in my name? My LLC is any legal act

My company owns the rental equipment but the company wouldn't hire me through a loan-out through my company. I probably should have set it up to where my income was W-2 and my rental was through my LLC, but I didn't think about that till now. My LLC is registered with the state as "any legal activity in the state."

302

Expert Alumni

Feb 3, 2021 1:05:50 PM

If you are a single member LLC, the IRS considers you a "disregarded entity" for tax purposes. This means you file your LLC income and expenses on Schedule C -Self Employment. So Yes, you can report your Form 1099-MISC for equipment rental on the same Schedule C you report your LLC's income and expenses.

Why sign in to the Community?

If I had a W-2 from a co, but also received a 1099 for rental equipment am I able to report the 1099 through my LLC even though it was in my name? My LLC is any legal act