Got laid off in 2022

[Gabriela]

Got laid off in 2022 and have not had a W2 for 2023. I did file an LLC so how do I proceed with my taxes for 2023?

[Lilianam]

Hi Gabriela, in regards to the LLC that you established in 2023, if the LLC is a single member LLC and if the business has started, then you will report the business (income and expenses) in Schedule C (self-employment income) of your individual income tax return.   Please note that if your single member LLC filed an election to be taxed as a corporation (Form 8832), then you would instead report the LLC in Form 1120:  Corporation Income Tax Return.

If there are two or more members in the LLC, then the LLC would be taxed as a partnership or corporation and the LLC would be reported in a business return (Form 1065 for Partnerships or Form 1120 for Corporations).   

Attached is an article with additional information:  https://turbotax.intuit.com/tax-tips/small-business-taxes/limited-liability-company-taxes/L5TDDlstC

Also, please note, if you received unemployment benefits in 2023, you should be receiving a 1099-G to report the unemployment income in your tax return.