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    #1

    LLC profits

    If a person has a single person LLC, is he/she mandated to run profits or losses thru the schedule C on the 1040?
    Tags: None
    #2
    How is the LLC elected to be taxed?

    Sole Proprietor?
    S Corp?
    Partnership?

    Chris

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      #3
      If the LLC is renting real property it would go on Sch E. If they are in the business of farming it would go on Sch F. Unless these situations, or they filed a 8832, they need to file on C.

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        #4
        So as pointed out above, it depends on (1) what exactly the LLC is doing to make money, and (2) if the Single Member LLC has made an election to be taxed as a corporation.

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