a single-member LLC, that did not elect corporate taxation, is a disregarded entity for federal income tax purposes. it does not file its own tax return. Rather the results are included in you 1040. What you need to do in this case is determine your overall tax liabilty. Pay it on or before 4/15 (some exceptions apply). if you can't file by 4/15 submit an extension Form 4868, but your taxes are still due as noted above.
What kind of LLC? Are you a Single Member LLC? Did you set it up as an S corp? If not an S corp it is a disregarded entity and you file it on schedule C in your personal tax return as self employment. So you just do the extension for your personal tax return.
An LLC is a legal entity, not a tax identity. If you are the sole owner and never requested to be a corporation, it is part of your tax return, on sch C. Just file your personal extension, the business is part of it.
Otherwise, the tax deadline was Mar 15.
Be sure to make any payments by April 15. You can make Payments online safely. Remember your Self-employment tax is included in the amount due. Only the paperwork is extended. See:
when making payments online under my personal IRS gov account, what payment type should we choose when making an extension? the extension was already filed within turbo tax?
Estimated tax
Make estimated tax payments in advance of filing your return.
Extension
Make a payment to receive an extension to file your Form 1040 tax return without filing Form 4868.
Does that not mean that IRS will generate me the extension form instead of turbo tax? I am afraid to trigger the extension twice..
also, once I do this, how do i tell turbotax correctly the exact amount I paid during extension so it account for it later when i file?
If your extension payment from 4868 line 7 does not automatically show up on 1040 you need to enter it. So make sure it's not already there before you enter it!
For 2024 Federal Extension payments should be on schedule 3 line 10. And go to 1040 line 31.
You can type estimates paid in the search box at the top of your return and click Find and it will give you a link to Jump To the screen where you enter Extension Payments.
To enter the amount you paid with an extension (including state extension) go to
Federal Taxes (or Personal for desktop H&B version)
Deductions and Credits
Then scroll way down to Estimates and Other Taxes Paid
Other Income Taxes - Click the Start or Update button
Next page second section Payments with Extension
Either Visit All or Click Start or Update by the extension you paid
all im doing is asking TT to file the extension for me. during that process i told it i will pay on IRS.gov
once I pay (correctly), i want to find out where to put this payment in TT so it accounts for it later when i finish filing.
I am not sure what "extension payment from 4868" is. Again TT assume does this.
In TurboTax, you will enter the payment you make with the extension under Deductions and Credits>>Estimated Tax payments.
Hmm should it be Estimated Tax ? I think that is for quarterly payments no?
The help section seem to say to use Deductions and Credits -> Estimates and Other Taxes Paid -> Income Taxes
If you are making payments before filing the return, such as payment made with filing an extension, enter the payments in the Federal section under Deductions and Credits, Additional Payments under Estimated Tax Payments. Once you have entered all of your payments in the Federal section, then revisit Form 2210 if needed.
In TurboTax Online: