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caronmaso
New Member

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?
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DDollar
Expert Alumni

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?

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.

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6 Replies
DDollar
Expert Alumni

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?

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.

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?

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

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?

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. 

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?

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?

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 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.

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?


@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

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