topic Re: Single Member LLCs in Get your taxes done using TurboTax

Single Member LLCs

szie21707 — Tue, 06 Sep 2022 17:57:51 GMT

We are Husband & Wife & we each own a single member llc. One LLC is registered to Husband and another LLC is registered to Wife. Do we each have to file married filing separately? Or can we file as married and each report our LLCs on one individual tax return?

Re: Single Member LLCs

Bsch4477 — Tue, 06 Sep 2022 18:50:33 GMT

File jointly. You would complete 2 Sch C’s on your joint return each reporting your separate LLC income.

Re: Single Member LLCs

szie21707 — Tue, 06 Sep 2022 19:19:23 GMT

That's what I thought @Bsch4477 . However, it looks like ProSeries does not support multiple single member LLCs.

Thank you very much for your response & confirmation.

Re: Single Member LLCs

rjs — Tue, 06 Sep 2022 19:36:24 GMT

A single-member LLC is disregarded for income tax purposes. It's called a "disregarded entity." That means that you report it on your personal Form 1040 joint tax return the same as if it were a sole proprietorship or self-employment. You don't enter anything in your tax return to indicate that it's an LLC.

I'm sure ProSeries allows you to enter self-employment income separately for each spouse, producing a separate Schedule C for each spouse. But this is the TurboTax Community. If you need help with ProSeries you should post your question in the ProSeries Community.

Re: Single Member LLCs

szie21707 — Tue, 06 Sep 2022 19:47:33 GMT

https://proconnect.intuit.com/support/en-us/help-article/electronic-filing/generating-e-filing-single-member-llc-proseries/L5gLclAVw_US_en_UShttps://proconnect.intuit.com/support/en-us/help-article/electronic-filing/generating-e-filing-single-member-llc-proseries/L5gLclAVw_US_en_US

This is the link provided by a ProSeries customer service rep.

On Schedule C, there is a box you must check to indicate that the Schedule C is an LLC in CA.

And CA will only populate one LLC also. The second LLC does not populate.

ProSeries does not support multip

Re: Single Member LLCs

rjs — Tue, 06 Sep 2022 19:57:44 GMT

We cannot help you with ProSeries here in the TurboTax Community. Please post your question about ProSeries in the ProSeries Community. When you post in the ProSeries Community, be sure to say that you are talking about the California tax return. You did not say that in your earlier posts here, so you got answers for the federal return.

Re: Single Member LLCs

szie21707 — Tue, 06 Sep 2022 20:44:59 GMT

Understood, I appreciate your responses. Thank you for your help on this.