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Transitioned business from proprietorship to LLC – How to file taxes?

chris c asked:


I transitioned my business mid 2007 to an LLC. Should I file taxes as two separate businesses? The first to include income and expenses as the sole proprietorship and the second to include income and expenses after becoming an LLC.

Or should I just include everything under the LLC?

Thanks!
It is a single owner LLC with its own Tax ID.
Also, I do not have any employees.

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This entry was posted on Tuesday, March 31st, 2009 at 7:37 pm and is filed under United States. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Transitioned business from proprietorship to LLC – How to file taxes?”

  1. Cedrick says:
    April 4, 2009 at 7:00 am

    Internet Marketing Course

    You are correct, keep each seperate for the time you had activity. If you are getting 1099-Misc make sure to correctly report it under the ssn or EIN

  2. taxmannyc says:
    April 6, 2009 at 10:35 am

    Private Air Charter & Jet Charter

    You should file a single Schedule C with your personal return (1040). You should not use the separate tax ID# for the LLC unless you have employees. Your social security number should be used whenever you fill out Form W-9 for your business.

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