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2 replies

DoninGA
DoninGA
March 14, 2024

What type of LLC? 

A multi-member LLC that files a Partnership return? 

A single member LLC that has incorporated and files a S Corporation return? 

Or a single member LLC that has not incorporated and files a Schedule C?

leeloo
leeloo
March 14, 2024

A partnership or S-Corp would issue a K-1. If you have a sole proprietorship, you just enter your income on Schedule C. 

T
ThomasM125
March 14, 2024

I think you mean that you are the sole-owner of your LLC. If so, you report your business income and expenses in the Self-employment income and expenses section of TurboTax. Your net income will be subject to self-employment tax in addition to income tax.

 

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