Hi there, I'm a single member LLC I'm just wondering if my tax classification is business or individual?

[pearlblack]

Hi there, I'm a single member LLC I'm just wondering if my tax classification is business or individual?

[DoninGA]

The IRS considers a single member LLC that has not incorporated as a disregarded entity.  So you report your income and expenses on Schedule C as a sole proprietor or independent contractor.

[SharonD007]

If you didn't file Form 8832 to be treated as a corporation when you set up your single member LLC, the IRS considers your LLC as a “Disregarded Entity”.  For additional information, review the IRS website: Single member limited liability companies.

You’ll report your LLC business income and expenses on Schedule C as self-employment income or Schedule F if it’s for farming.

Refer to the TurboTax article: LLC Tax Filing Rules.