Question

How Do I File and is Home & Biz + State (MD) Tax Software Correct?

Forum|Forum|5 years ago
June 16, 2020
1 reply
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I am a Maryland based military retiree, collecting SS with a home-based Sole-proprietor LLC which has generated expenses, but no revenue, how do I file?

My only income is from my Military Pension and Social Security (I am 65). I started a Home-based LLC (Freelance Consultant) which has generated expenses, but no revenue. How do I file?

Is the Home & Business + State (MD) Tax Software Correct for me?

Thank you.

T

TomD8

A single-member LLC is treated by the IRS as a Sole Proprietorship. Sole Proprietorships report their income and expenses on Schedule C, which is included in TT Home & Business. So you have the appropriate TT package.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.