topic Sole prop to LlC how do I file taxes? in Self employed

Sole prop to LlC how do I file taxes?

Indycolt88 — Thu, 29 Aug 2019 11:06:29 GMT

Hi my questions is how to file taxes when switching from a Sole Prop to an LLC half way through the tax year. Do I file with both EINs?Or do I break it up from the old EIN to the new one and file 2 Schedule Cs? We also have 100 or so independent contractors do I send them 1099s with both EINs on it?

Re: Sole prop to LlC how do I file taxes?

Anonymous_ — Thu, 29 Aug 2019 16:10:18 GMT

See the following discussion:

https://ttlc.intuit.com/community/business-taxes/discussion/re-yes-since-the-single-member-llc-is-being-reported-on-yo/01/846358#M32885

Re: Sole prop to LlC how do I file taxes?

Carl — Fri, 30 Aug 2019 01:40:15 GMT

As far as the IRS is concerned, when it comes to taxing the only difference between a sole proprietorship and a single member LLC is the spelling. Literally? But..... did you take on a partner and go from a sole propietorship to a multi-member LLC? Please let me know so I don't waste your time with irrelevant information.

Re: Sole prop to LlC how do I file taxes?

Anonymous_ — Fri, 30 Aug 2019 02:43:07 GMT

This is a duplicate, actually. Read the first post linked to in the first response.