Filing for myself & my single-party LLC, including business deductions

steffeneriksen — Tue, 24 Feb 2026 07:33:08 GMT

I incorporated my own LLC to do some independent contracting work after getting laid off from a full-time employer. At the end of the year, I will receive a W-2 from my old employer and a 1099 from the companies where I have completed independent contractor work. I have also been tracking expenses that can be written off as business expenses for my LLC.

Does TurboTax help me with these business deductions? And do I file one tax report jointly for myself and my single-party LLC?

Re: Filing for myself & my single-party LLC, including business deductions

Andrew_W — Wed, 25 Oct 2023 21:37:27 GMT

Hi @steffeneriksen,

A single-member LLC, or SMLLC, is generally considered a sole proprietorship for tax purposes and is reported on your personal tax return, there is no need for a separate return. Within TurboTax your business income and expenses are entered in the Wages & Income > Self-Employment section. TurboTax will ask about your business's details, including sources of income, and recommend expense categories. You will be able to modify the categories and enter your business expenses to offset your gross business income.

I also suggest checking out the Self-Employment Tax Hub, it is a great resource for self-employed individuals from a tax perspective.

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Filing for myself & my single-party LLC, including business deductions

Re: Filing for myself & my single-party LLC, including business deductions