Question

Single Member LLC

Forum|Forum|2 years ago
April 10, 2024
1 reply
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Turbo tax asks if you started a business, well yes I did, I started a single member LLC, so do I click yes? If I click yes, it wants my business name and EIN, however I know that a single member LLC files taxes on my personal return? So should I select No, that I didn't start a business? As then my profile/taxes are filed under my name/SSN?

CatinaT1

Yes, you will say yes. A business name and EIN is optional. If you do not enter a business name or EIN, your name and Social Security number will be used.

Even though it is filed on a Schedule C in your personal return, you could have a business name or EIN, but they are not required.

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