Taxes - Contractor and Business

[kvarvil]

Hello, 

I am an independent contractor for the state.  I get a 1099-misc.  Over the past 6 years, I have been filing as an independent contractor.  This past year, I created my own LLC (I am the only employee) in April 2018.  I received two different 1099's this year... one for my LLC and another one for the money I made prior to my LLC (January to April).  Do I need to file my taxes separately (file once for my LLC and then file again for the money I made prior to the LLC) or can I file them all at once together? 

Thanks 

[DianeC958]

No, you need to file the information separately. As long as you are a single member LLC  you just need to have two Schedule C (Self-Employment Income and Expenses).  You will need to split the expenses between the two Schedule Cs.  

This makes it easier for the government to realize you have claimed all of the income on your return.

[kvarvil]

I am pretty organized and can have the expenses split between the two according to the appropriate time frames.  Is this something that is easy to complete online or should I go to an accountant? 

[DawnC]

If you kept good records, it should be easy to do in TurboTax.  If the work you did for the state and the work you do for your LLC is the same type of work, you don't have to separate them.  You only need to have 2 separate Schedule Cs if the work you do is different.  

If the work is different and you do complete 2 Schedule Cs, just separate your income and expenses and report the appropriate share on each Schedule C.  If you have a home office, TurboTax can help you allocate that expense between the 2 businesses as well.