Question

Should I add another line of work if self-employed with one business but multiple lines?

Forum|Forum|3 years ago
March 23, 2023
1 reply
0 views

I own one business with one EIN but have 2 different lines of work within the business

TurboTax Self Employed Online

It depends. If the lines of work are related (different sales products, for example), report those activities on one Schedule C. But if your businesses are essentially separate (sales and consulting, for example), you may prefer reporting those activities on separate Schedules C. This would apply if your lines of work began in different years, or if they don't share assets. You can have as many businesses as you like on your return. The IRS is mostly concerned that you report all your business income.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"