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?
You'll need to sign in or create an account to connect with an expert.
See the following discussion:
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.
This is a duplicate, actually. Read the first post linked to in the first response.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
4MyInfo
Returning Member
reneec521
New Member
mkmuscat
New Member
untuit
Level 3
irene8724
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.