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Returning Member
posted Feb 5, 2025 2:50:55 PM

Self employment

Question(s) regarding self employment. I have an LLc that does two main things: consulting, and rental solutions. When using turbo tax, it seemed that the software wanted me to split those into two sections, even though it is one LLC. Is that correct? What about the fact that it’s one EIN number, so as I did that, I was listing the same EIN for two different entries? I’d rather just put it all as one entry?

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3 Replies
Employee Tax Expert
Feb 5, 2025 3:09:54 PM

If your consulting and rental solutions work is the same business activity, you can combine them on one Schedule C (assuming your LLC is a single member LLC).   If they are 2 separate business activities, you would need to prepare 2 separate Schedule Cs.   

 

It sounds like you have one business which needs only one Schedule C.  

 

See example here with 2 business activities - driving and construction work. 

Returning Member
Feb 5, 2025 3:38:05 PM

Thanks. If I determine they aren’t closely related and separate them, is it ok to put the same EIN for both entries, both/different schedule Cs?

Employee Tax Expert
Feb 5, 2025 3:42:14 PM

No, you should not use the same EIN for two separate businesses.   You can use your SSN for the other unrelated business in that case.  You don't have to have an EIN for your business unless you have employees.