Personal and LLC taxes. Can I file together or is it separate?

Gabrielle
Gabrielle Member Posts: 1 Newcomer
edited December 2024 in Filing my taxes

I formed an LLC this year but barely made money can I file those taxes when filing my personal taxes even though I will be filing those married joint since we got married this month?

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  • kiarab
    kiarab FreeTaxUSA Agent Posts: 84

    It kind of depends on the classification of your LLC. The IRS will treat it an LLC as either a corporation, a partnership, or as part of their tax return (usually on a Schedule C).

    If you do not have a partner and you didn't make the election to be treated as a corporation, then you may be able to file it on your individual income tax return as a disregarded entity. https://www.irs.gov/businesses/small-businesses-self-employed/limited-liability-company-llc

    If that applies to you, most people report it on a Schedule C for self-employment/business tax return. There you can report your proceeds and your expenses to see if you have a profit or a loss.

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