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LLC and 1099 filing

Hello,

 

I started an LLC as a single owner sole proprietor in September 2019 and received minimal income and expenses through that business.

 

Most of my 1099 income and business-related expenses were through my personal for the year.

 

Do I report this income through the LLC? Can I write off those expenses through the LLC?  If so, do I also have to report this income and expenses on my personal federal return?

 

Thank you.

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1 Reply
DianeC958
Expert Alumni

LLC and 1099 filing

No, you need to report separately the income and expenses before the LLC on a Schedule C,  then file a separate Schedule C for the LLC income and expenses.

 

Since you are a single member LLC you report all of your income and expenses on your personal return on Schedule C.

 

Next year if you run all of your income and expenses through the LLC then you will only file one Schedule C to report your business information.

 

 

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