topic Single Member LLC in Business & farm

Single Member LLC

roynolan — Tue, 04 Jun 2019 00:30:50 GMT

I have a single member LLC with an EIN and I'm about to open up a seperate sole proprietorship business. If I get a separate EIN for the sole proprietorship can I file one tax return with two schedule C's. One Schedule C would carry the single member LLC EIN while the other Schedule C would carry the sole proprietorship EIN. Thanks

Yes, you can have multiple Schedule Cs for multiple busin...

DDollar — Tue, 04 Jun 2019 00:30:52 GMT

Yes, you can have multiple Schedule Cs for multiple business ventures being reported as self-employment. There is a link in the program to "Add Another Business" which will add another Schedule C.

Re: Yes, you can have multiple Schedule Cs for multiple busin...

chopinois — Mon, 24 Jun 2019 18:17:40 GMT

How much does it cost to file multiple Schedule C's with Turbotax? Is there an additional fee for additional Schedule C's, or is it all included under the basic Turbotax business fee?

Re: Yes, you can have multiple Schedule Cs for multiple busin...

Lisa995 — Mon, 24 Jun 2019 20:46:06 GMT

TurboTax Business is for business entities like partnerships and corporations, if you only have a sole prop and a SMLLC, you'll want TurboTax Home & Business, there is no extra fee for each additional Sch C.