A Limited Liability Company (LLC) will file one of the following depending on its situation.

  1. Form 1040 (Schedule C, E, or F) (appropriate for single member LLCs)
  2. Form 1065 (Partnership) (appropriate for multiple member LLCs)
  3. Form 1120S (S Corporation)
  4. Form 1120 (Corporation)

 

IRS Publication 3402 Tax Issues for Limited Liability Companies provides additional information to determine the best tax reporting form to use for your LLC.

What Kind of Tax Return Do I File?

  • Single member LLCs
    • If the only member of the LLC is an individual, the LLC income and expenses are reported on Form 1040, Schedule C, E, or F.
    • If the only member of the LLC is a corporation, the LLC income and expenses are reported on the corporation’s return, usually Form 1120 or Form 1120S.

PLEASE NOTE: Single-member LLCs may NOT file a partnership return.

  • Multiple Member LLCs
    • Most LLCs with more than one member file a partnership return, Form 1065. If you would rather file as a corporation, Form 8832 must be submitted. You don’t need to file a Form 8832 if you want to file as a partnership.

Please note that whichever return the LLC elects to file, the LLC should continue to file that same tax return in future years.


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