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Can I enter a single member llc, into Form 1040?

mcardellocpacfp
Level 2
 
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4 Comments 4
Just-Lisa-Now-
Level 15
Level 15

SMLLC's use Sch C that is included with a 1040, is that what you're asking?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
abctax55
Level 15

SMLLC's can also be rentals; to generate Sch E, that's Screen 18.

IF, as Lisa commented, it's a Sch C, that's Screen 16.

Then there's the random Farm, Sch F  (that would be Screen 19).

And bonus question of the day - what state?

 

HumanKind... Be Both
abctax55
Level 15

AND... are we safe assuming this SMLLC didn't elect to be treated as some other kind of taxable entity?

HumanKind... Be Both
George4Tacks
Level 15

Yes. Here is a helpful link https://proconnect.intuit.com/community/help-articles/help/lacerte-individual-smllc-frequently-asked... AND, surprise, surprise, the links within in it are not broken!

If you have a different state, come back and share that with us.


Answers are easy. Questions are hard!