wethepeople
Level 3
06-17-2020
12:20 PM
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My client is single and self employed. He filed Schedule C in 2018, but in 2019 formed an LLC with himself as the only Manager.
He received several Forms 1099-MISC from his customers in the LLC name and EIN for 2019.
I trust he can use the same Schedule C with the only change being to report the LLC name on Line C and the EIN on Line D. Is this correct?
Also, he opened a checking account in the name of the LLC with their EIN and the bank gave him a bonus of $300.00 which they reported to him on Form 1099-INT for 2019.
Does this get reprted on Schedule B as interest income even though the EIN is different from his social security numer?
Thanks.
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