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Returning Member
posted Mar 7, 2022 2:29:23 PM

How to enter info in 1065 for mmllc if member smllc

How to enter info in 1065 for mmllc if member smllc. In TT business 2021 I checkbox "This member is not a person. It is an LLC or other business entity."  In list I see options like- I,C,S,GP,LP,LLPC,PLLC and others but I cant find  single member llc. If I choose I-Individual this checkbox saves as unchecked. So what option I should choose there and what I should see in my 1065. 

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1 Replies
Expert Alumni
Mar 7, 2022 3:11:49 PM

A Single-Member LLC that does not elect to be treated as a corporation for tax purposes, is considered a disregarded entity.  This means it is one and the same with the owner and is therefore properly classified as an individual.  The partner information should be the name of the LLC and the EIN of the LLC.