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Old 02-04-2017, 11:39 PM
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LLC Electing S Corp Late Classification & Partnership [First Filing]

Hi all,

This would be the first filing. I created my LLC in September of 2016. I filed for my EIN in October, during so I believe I selected LLP, requiring me to file form 1065. However, if I understand it correctly, I will need to file Form 2553 as a Late Entity Classification (for electing as a S Corp), and thereby Form 1120S supersedes Form 1065 correct?

Second question, since I created the EIN as a partnership, but I did not actually have a partner to put in said partnership (Meaning I am solo), is there an additional form I need to fill out?

Third question, if I was given a 1099-MISC for $8,500 with my SSN, but 1) Nearly half of that was reimbursement for parts or materials purchased. 2) it really should be with my LLC, is it an issue if I report the income under the LLC and not me?

Thank you!

Last edited by gizmopt2002 : 02-04-2017 at 11:50 PM.

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