Question

Schedule C

Forum|Forum|2 years ago
August 30, 2023
1 reply
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Hello,

I switched mid-year from 1099 under my SSN to a single member LLC. The majority of my earnings will happen after I created the LLC.

Can you please confirm that only one Schedule C is needed at year-end? The first half of the year will have 1099 linked to my SSN and the second half will have 1099 linked to my new EIN.

Best,

Coumba

Ask the Experts - Self-Employed - Aug 2023

Holly W

Hello @coumbak

Thank you so much for being here and participating in our event today, we are so happy you are here!

Yes. Assuming you are a sole proprietor filing a Schedule C (as most start up business file), your social security number will be on the Form 1040 for the Individual side of your income taxes. However, when you set up your Business Profile for Schedule C, you can enter your EIN number. The income paid to you using either your EIN or your SSN (Social Security Number) can both be combined on the same Schedule C for the business.

This link may also be helpful: IRS Small Business Help Center

Good luck in your endeavors!

Cheers,

Holly W

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