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daringentry
New Member

I'm self employed most of the time but part of the time I work for a NGO, which forms do I need to submit?

This year I started a LLC, will that effect which forms to submit?
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MichaelMc
New Member

I'm self employed most of the time but part of the time I work for a NGO, which forms do I need to submit?

You will want to report your self-employment income on Schedule C, using the Business tab in TurboTax Self-Employed. Your earnings from the NGO, which I assume are reported to you on a Form W-2, should be reported under the Personal tab.

The reporting for the LLC is a bit tricky, depending on the choices you made when you started it. If it is a single-member LLC, it will be a disregarded entity for income tax purposes, meaning you file it on another Schedule C within your existing tax return. 

If it is a multi-member LLC, you would have been asked to make an election to treat it as a partnership (this is the default) or as an S Corp. Either of these will require the use of TurboTax Business (Windows Only), which is a Windows desktop product only, to prepare and file the LLC's tax return, either Form 1065 for a partnership, or Form 1120-S for an S Corp. Either of these will generate a Form K-1 for each member, which is used to carry the individual member's share of income and expenses back to his personal tax return.

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MichaelMc
New Member

I'm self employed most of the time but part of the time I work for a NGO, which forms do I need to submit?

You will want to report your self-employment income on Schedule C, using the Business tab in TurboTax Self-Employed. Your earnings from the NGO, which I assume are reported to you on a Form W-2, should be reported under the Personal tab.

The reporting for the LLC is a bit tricky, depending on the choices you made when you started it. If it is a single-member LLC, it will be a disregarded entity for income tax purposes, meaning you file it on another Schedule C within your existing tax return. 

If it is a multi-member LLC, you would have been asked to make an election to treat it as a partnership (this is the default) or as an S Corp. Either of these will require the use of TurboTax Business (Windows Only), which is a Windows desktop product only, to prepare and file the LLC's tax return, either Form 1065 for a partnership, or Form 1120-S for an S Corp. Either of these will generate a Form K-1 for each member, which is used to carry the individual member's share of income and expenses back to his personal tax return.

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