[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-5690":3},{"rec_id":4,"title":5,"text":6},"5690","How do I report LLC income?","\u003Cb>Single Owner\u003C/b>\u003Cbr>\r\nMenu Path: \u003Ci>Income > Business / Rental Income > Business Income (Schedule C)\u003C/i>\r\n\u003Cbr>\u003Cbr>\r\nA single-owner LLC reports business income and expenses on \u003Ci>Schedule C\u003C/i>. Enter your LLC income and expenses in the \u003Ci>Business Income (Schedule C)\u003C/i> section. \r\n\u003Cbr>\u003Cbr>\r\n\u003Cb>Multi-Owner\u003C/b>\u003Cbr>\r\nMenu Path: \u003Ci>Income > Business / Rental Income > Partnership Income (Schedule K-1)\u003C/i>\r\n\u003Cbr>\u003Cbr>\r\nIf there is more than one owner in an LLC, the LLC is treated like a partnership for tax purposes. A \u003Ci>Form 1065\u003C/i>, partnership return, needs to be filed for the LLC. A \u003Ci>Schedule K-1\u003C/i> will be given to each owner showing that owner's portion of LLC income that needs to be reported on the owner's \u003Ci>Form 1040\u003C/i>. Report your \u003Ci>Schedule K-1\u003C/i> income from the multi-owner LLC on the \u003Ci>Partnership or LLC Income and Deductions (Schedule K-1)\u003C/i> screen.",1777391585639]