turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

15chrjef
New Member

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

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
MinhT
Expert Alumni

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

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

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
15chrjef
New Member

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

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.
MinhT
Expert Alumni

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

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.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question