My friend formed a LLC and aided to do real estate investment. The IRS assigned the form 1065 in form SS-4 to the LLC. However, my friend is the single member of the LLC since he formed this LLC, and he didn't file the form 8832. In 2020, the LLC had no business income generated, but received 6K dividend income, 1K interest income, and 30K short term capital gain from stock trading. He has couple questions about 2020 income tax reporting.
1. How should he report the dividend, interest, and capital gain? Should he just report to schedule B and schedule D along with form 1040?
2. The LLC had no business income generated, but my friend had some business expense, can he file schedule C about this net business loss?
3. What the due day of the Form 568? How can he apply extension?
4. Is the $800 LLC fee due on 4/15/2021?
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You asked Twice. Once in ProConnect and once in Lacerte.
However, this also seems to be a Personal question.
Are you a TurboTax user? If so, you are in the wrong place on the internet. This is a ProConnet Program user's community.
You tagged the other version of this topic for Intuit Link. That's a way for professional tax preparers to get shared tax documents from their clients and to import into the ProConnet Program.
You might simply be lost on the internet.
And a lot of what you asked can be found from the IRS and by using the web search such as the googles.
If you want Tax Guidance...The TurboTax Community forums have Sections on Topics specifically for various things like what you asked.
You seem to be lost on the internet.
You’ve come to a Peer User community for Intuit Tax Preparation products supporting tax preparation professionals using ProSeries, Proconnect and Lacerte Tax Preparation programs, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.
Thanks.
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