My wife currently has an LLC, which is a life coaching business. She also works as an independent contractor-type worker for a life coach training organization. She received more than $600, but the business has not sent a 1099-MISC, so I'm entering the income as "checks". Since the LLC and independent contractor work is related, TurboTax is trying to put the income from the independent contractor work under the LLC, but I don't think I should put it there.
My thought is to put the two sets of income in separate self-employed categories. Even though they could share deductions, I would then only deduct expenses from the LLC. Or, should I put all the income under the LLC, since the work for the LLC and the work for the organization is somewhat related, even though the independent contractor work wasn't part of the LLC?
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In general, it is easier to include them as one business since they are related. That way, you won't have to allocate expenses to each separate business. The choice is yours if you want to keep everything separate. Assuming you are filing the LLC as a Single Member Disregarded Entity on a Schedule C, it is all netted together on your individual income tax return anyway.
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