Skip to main content
Level 1
July 21, 2020

LLC company, single member, tax deposits

  • July 21, 2020
  • 3 replies
  • 1 view

To make a tax deposit on EFTPS for a LLC, single member, for quarterly estimated tax, what form do I use?  I picked 1065, and it gave me an error saying I was not set up for that form?

    This topic has been closed for replies.

    3 replies

    abctax55
    Level 15
    July 21, 2020

    1) What software?

    2) ARE you aware that a SMLLC isn't a partnership?

    HumanKind... Be Both
    IRonMaN
    Level 15
    July 21, 2020

    You might be searching for another land far, far away called Turddotaxx.  It's a land where everything is free and life is just peachy.  If you liked the TV show Cheers, you will love it there because they love ending all of their sentences with "cheers".  Visit  https://support.turbotax.intuit.com/contact/

    Tell them the Yote sent you.

     

    Now wasn't that better than the canned response?

    Slava Ukraini!
    qbteachmt
    Level 15
    July 21, 2020

    There is no income tax for 1065. That's one thing wrong here.

    There is no 1065 for this person. That's the other thing wrong here.

    You have a Single Member LLC, which means disregarded (ignored) for Federal tax purposes. This person will be reporting their business activity on Sched C, which is part of Form 1040.

    You seem to be trying to pay 1040ES. Personal Quarterly Estimated taxes, for a person that has a full financial picture for their personal life, and their business contributes to that picture. Whether or not they need to pay quarterly is a completely different question.

    *******************************Don't yell at us; we're volunteers
    Level 3
    July 22, 2020

    Hi, I can actually help with this. I think you would want to make the quarterly estimated tax payments in the name of the single member, and choose form 1040. On EFTPS it will give you an error the first time you try to make a payment, telling you you aren't set up for the form. Just ignore the error and make the payment. It did the same thing to me and I called in and asked about the error and was told to ignore it.