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Old 02-27-2014, 03:48 PM
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How to file Schedule C if Form 1040 was already filed?

Hello,
I founded a single-member Limited Liability Company on August, 20 2013. It hasn’t yet started any operations. It doesn’t have a bank account, income, losses and any activity at all.
I have three questions,
1. Should I file Tax Form Schedule C in addition to my personal Tax Form 1040?
2. I already filed my Tax Form 1040 and didn’t show that I have a business,
what should I do?
3. If I file Tax Form 1120 for my LLC as a corporation, will it help me to
resolve issue from the question 2?
Thank you for your help.



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Old 02-27-2014, 11:45 PM
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Join Date: Oct 2010
Posts: 5,230
Quote:
Originally Posted by shurzota View Post
1. Should I file Tax Form Schedule C in addition to my personal Tax Form 1040?
2. I already filed my Tax Form 1040 and didn’t show that I have a business,
what should I do?
3. If I file Tax Form 1120 for my LLC as a corporation, will it help me to
resolve issue from the question 2?
Thank you for your help.
1. correct aslongas the amount reported on Sch c line 29, 31 is$400 r exceeds $400, then, you need to file return and also once the amount on sch se line 2, 3 is $400 or exceeds$400 the you must pay seca tax.if not, you donot need to file sch c of 1040.so it depends.


2. as mentioned above




3.as mentioned above, aslongas it is a smllc, you need to file sch c while you need to file f 1120 for your smllc taxed as c corp. single member LLC cannot be treated as a partnership. It can elect to be treated as a corporation by filing Form 8832. If the LLC does not make this election it will be treated as a "disregarded entity", meaning that the single member of the LLC will be treated as a sole proprietor for federal income tax purposes.



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Old 02-28-2014, 04:33 PM
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Thank Wnhough



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