Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 3, 2019 1:31:33 PM

Can I use the annual Alternative Entity Tax for Delaware LLCs as a tax deduction?

0 3 574
3 Replies
Expert Alumni
Jun 3, 2019 1:31:34 PM

Yes, the Alternative Entity Tax is a business expense which can be claimed by the LLC under Taxes and Licenses.

New Member
Jun 3, 2019 1:31:35 PM

How do I input this in turbo tax? I only see a "estimated tax payments" under "other business expenses".

I am trying to use this deduction for a single member llc with no income.

Expert Alumni
Jun 3, 2019 1:31:36 PM

As you report the income and expenses of the LLC on Schedule C of your personal return, you should enter this tax on Schedule C under Taxes and Licenses. Your Schedule C will show a loss which can partly offset your other income.