Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 31, 2019 6:51:19 PM

If i have income on an EIN, do I need to file a separate tax return for the EIN income or can I file a Schedule C on my personal return?

I have a DBA and a customer would rather write checks to my business DBA than to me personally.  Is it better for me to associate my DBA with my social rather than an EIN?

0 6 21219
1 Best answer
Expert Alumni
May 31, 2019 6:51:21 PM

No you do not need to file a separate tax return.  You can file using Schedule C.  You will be prompted to enter your EIN if you have one.

6 Replies
Expert Alumni
May 31, 2019 6:51:21 PM

No you do not need to file a separate tax return.  You can file using Schedule C.  You will be prompted to enter your EIN if you have one.

Level 15
May 31, 2019 6:51:26 PM

Write the DBA name on line C of the Sch C.

Level 1
Jul 22, 2019 3:39:48 PM

But if I do file taxes separately with my EIN and DBA will it be attached to my SSN taxes? I would like to keep them both different. 

Level 15
Jul 22, 2019 4:00:57 PM

Yes, if you file schedule C with your EIN and dba, it will be part of your personal 1040 return.  And you pay self employment tax under your ssn.  

 

Unless you have a Single Member LLC that elects to be an S corp.  Then you file a separate LLC 1120 S Business return.  What kind of separate Business return will you be filing?

Level 1
Jul 23, 2019 10:19:43 AM

I want to have a separate tax filing so the LLC S corp is where I need to make my business so to have them separate? Where is the best place to get my LLS S corp created? Can I di it online? I have my EIN number to create a bank account.

Level 15
Jul 23, 2019 10:30:26 AM


@TazzySan wrote:

Where is the best place to get my LLS S corp created?


You should definitely consult a tax professional if you are seriously considering this change.

 

Having said that, you would need to file Form 2553 no more than 2 months and 15 days after the beginning of the tax year the election is to take effect or any time during the tax year preceding the tax year it is to take effect.

 

See https://www.irs.gov/instructions/i2553#idm139773190695312