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Level 1

Sole Proprietorship to an LLC

I changed my sole proprietorship to a single member LLC mid year 2020. They are same business, just  a structure change.  Do I file 2 schedule C's or combine the activity in to one Schedule C?

2 Replies
Level 1

Sole Proprietorship to an LLC

Yes, you should combine the business activities and file all income and expense items on one Schedule C. 

Level 15

Sole Proprietorship to an LLC

As a single member LLC it is treated the same way as the prior Sch C ... other than adding the LLC's EIN to the Sch C nothing else changed on the tax return.  

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