https://ttlc.intuit.com/community/taxes/discussion/revenue-from-llc/01/2564096#M953701 <P>Revenue from LLC is $1,500.&nbsp; Expenses were $3,000.&nbsp; What is the revenue threshold for needing an EIN.&nbsp; Can you have expenses that exceed revenue?</P> Mon, 09 Mar 2026 08:40:03 GMT ehughes1120 2026-03-09T08:40:03Z https://ttlc.intuit.com/community/taxes/discussion/revenue-from-llc/01/2564096#M953701 <P>Revenue from LLC is $1,500.&nbsp; Expenses were $3,000.&nbsp; What is the revenue threshold for needing an EIN.&nbsp; Can you have expenses that exceed revenue?</P> Mon, 09 Mar 2026 08:40:03 GMT https://ttlc.intuit.com/community/taxes/discussion/revenue-from-llc/01/2564096#M953701 ehughes1120 2026-03-09T08:40:03Z https://ttlc.intuit.com/community/taxes/discussion/re-revenue-from-llc/01/2564205#M953702 <P>Yes, you can. That has nothing to do with needing an EIN. the IRS expects you to make a profit in 3 out of every five years.</P> <P>&nbsp;</P> <P>A tax ID number is not required if you operate a sole proprietorship or an LLC with <STRONG>no employees</STRONG>, in which case you would simply use your own Social Security Number as a tax ID. But&nbsp;<STRONG>you must obtain an EIN if you are a sole proprietor who files pension or excise tax return.</STRONG></P> Wed, 09 Mar 2022 17:50:40 GMT https://ttlc.intuit.com/community/taxes/discussion/re-revenue-from-llc/01/2564205#M953702 ColeenD3 2022-03-09T17:50:40Z