Answered: 2 member llc that will change to single member llc in Nov..Last year 1065's were filed.Do we use 1065's this year or change class with form 8832 and only use schedule C?

Ed371 · ‎12-07-2019

Two member llc consist of spouses filing married jointly. Would like to change to single member llc with only one spouse for tax form simplification. Company did generate some income for this year.

sjrcpa · ‎12-07-2019

1065 for the period of time it had 2 members - a short year return. Then Sch C for the preiod of time with single owner. 8832 not needed. Disregarded entity is the default classification for a single member LLC.

The more I know, the more I don't know.

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sjrcpa · ‎12-07-2019

1065 for the period of time it had 2 members - a short year return. Then Sch C for the preiod of time with single owner. 8832 not needed. Disregarded entity is the default classification for a single member LLC.

The more I know, the more I don't know.

abctax55 · ‎12-07-2019

Community property state?

HumanKind... Be Both

Ed371 · ‎12-07-2019

No, Illinois

2 member llc that will change to single member llc in Nov..Last year 1065's were filed.Do we use 1065's this year or change class with form 8832 and only use schedule C?

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