topic LLC owned by a Trust - How to file in TurboTax Business? in Business & farm

LLC owned by a Trust - How to file in TurboTax Business?

jeffm — Mon, 23 Feb 2026 12:14:43 GMT

We have an Single member LLC owned by a Trust (only the trust owns it) - How do you file taxes in TurboTax Business for the LLC? I don't see how to enter the LLC when filing the Trust tax. Do I need a seperate return for to file for the LLC?

Re: LLC owned by a Trust - How to file in TurboTax Business?

Anonymous_ — Sat, 18 Feb 2023 15:40:12 GMT

@jeffm wrote:

Do I need a seperate return for to file for the LLC?

You do not need to file a separate return for the LLC (Form 1065) if it is a single-member LLC without an election to be treated as a corporation for federal income tax purposes.

Re: LLC owned by a Trust - How to file in TurboTax Business?

jeffm — Mon, 20 Feb 2023 02:31:37 GMT

Ok, so the only way I found to actually enter the data for LLC was to go to forms and create a new schedule C where I put in my information. It was necessary to override the EIN since the LLC EIN was not the same as the trust EIN. Then I just entered my income, and expenses and it seemed to work. I didn't see anything in the interview process for Turbo Tax Business to do this. Is this the correct way to get this done?

Re: LLC owned by a Trust - How to file in TurboTax Business?

Anonymous_ — Mon, 20 Feb 2023 03:15:32 GMT

On a 1041? Yes, you need to complete a Schedule C in Forms Mode.

Re: LLC owned by a Trust - How to file in TurboTax Business?

zarwa ashraf — Fri, 15 Sep 2023 09:40:22 GMT

i has a llc who is owned by telarus so how can i file it's return?as per my knowledge it is a single member llc so i need to file schedule C along with my form 1040 but i am confused as its owner is trust then trust should file schedule C not I?but i received commission income from telarus so please guide me should I file schedule C along with my form 1040 and also which EIN and social security number should I use .....mine or LLC

Re: LLC owned by a Trust - How to file in TurboTax Business?

Anonymous_ — Fri, 15 Sep 2023 13:35:32 GMT

The LLC, being a single-member LLC, is treated as a disregarded entity for federal income tax purposes.

Whether the trust is required to file its own return (or is also treated as a disregarded entity) depends upon whether it is a grantor trust or a nongrantor trust.

See https://www.irs.gov/instructions/i1041#en_US_2022_publink1000286018

Re: LLC owned by a Trust - How to file in TurboTax Business?

Justa-Tax-Noob — Sun, 07 Apr 2024 02:56:42 GMT

How do you create a new form? All I get are business forms.

I am the trustee for a trust that owns a single-member LLC. The trust doesn't yet have an EIN because nobody died yet. The trust owns the LLC, and the LLC owns the rental property.

Also, how do you enter property tax expenses paid by the LLC as a business expense? TurboTax doesn't ask for property taxes in the business expense section.

Re: LLC owned by a Trust - How to file in TurboTax Business?

RobertB4444 — Mon, 08 Apr 2024 17:54:28 GMT

If the trust is not active yet then it doesn't need to file a tax return. The LLC files a tax return and does it however its single member decides. Since it is a disregarded entity it has a lot of options.

@Justa-Tax-Noob