I set up an LLC in North Carolina in 2017 (single member) and made $17,000, and also have a W2 for part of the year, which Turbo Tax package should I use?

jquantz · ‎June 6, 2019

MinhT · ‎June 6, 2019

A single=member LLC is a disregarded entity and you can file income and expenses of the LLC on Schedule C within your personal tax return.

To file a Schedule C, when you have expenses to claim against your business income, you'll need to use TurboTax Self-Employed (online) or TurboTax Home & Business (CD/Download).

Please read this TurboTax article on reporting business income and deductions for more guidance:

https://turbotax.intuit.com/tax-tips/self-employment-taxes/reporting-self-employment-business-income...

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View solution in original post

MinhT · ‎June 6, 2019

A single=member LLC is a disregarded entity and you can file income and expenses of the LLC on Schedule C within your personal tax return.

To file a Schedule C, when you have expenses to claim against your business income, you'll need to use TurboTax Self-Employed (online) or TurboTax Home & Business (CD/Download).

Please read this TurboTax article on reporting business income and deductions for more guidance:

https://turbotax.intuit.com/tax-tips/self-employment-taxes/reporting-self-employment-business-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"

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I set up an LLC in North Carolina in 2017 (single member) and made $17,000, and also have a W2 for part of the year, which Turbo Tax package should I use?