Colorado LLC use Schedule C?

#4 01-23-2006, 06:13 AM

"Vic Dura" <vpdura[at]CLUTTERhiwaay.net> wrote:

- quote -

> I'm asking this question for another person, so I don't know
> if I have enough detail; but can a one-person Colorado LLC
> use Schedule C (1040) to report income, etc for the LLC?

Is there a particular reason you wouldn't?

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

#3 01-22-2006, 10:54 AM

"bc" <cantor2[at]ix.netcom.com> wrote:
- quote -

> Vic Dura <vpdura[at]CLUTTERhiwaay.net> wrote:

> > I'm asking this question for another person, so I don't know
> > if I have enough detail; but can a one-person Colorado LLC
> > use Schedule C (1040) to report income, etc for the LLC?

> Absent an election to be taxed as an association
> (corporation), they don't have a choice.
> --
> Bruce Davidson Cantor, CPA, JD
> Admitted in Colorado

Actually, as a disregarded entity, the SMLLC would file
whichever 1040 Schedule is most appropriate to the type of
business conducted. I have several SMLLC for which we use
Schedule E or Schedule F.

Gene E. Utterback, EA, RFC

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

#2 01-20-2006, 09:54 PM

Vic Dura <vpdura[at]CLUTTERhiwaay.net> wrote:

- quote -

> I'm asking this question for another person, so I don't know
> if I have enough detail; but can a one-person Colorado LLC
> use Schedule C (1040) to report income, etc for the LLC?

Thanks to Paul and bc for your helpful information.

--
To email me directly, remove CLUTTER.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

#1 01-18-2006, 05:05 AM

Vic Dura <vpdura[at]CLUTTERhiwaay.net> wrote:

- quote -

> I'm asking this question for another person, so I don't know
> if I have enough detail; but can a one-person Colorado LLC
> use Schedule C (1040) to report income, etc for the LLC?

Absent an election to be taxed as an association
(corporation), they don't have a choice.

--
Bruce Davidson Cantor, CPA, JD
Admitted in Colorado

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

01-18-2006, 04:27 AM

"Vic Dura" <vpdura[at]CLUTTERhiwaay.net> wrote

- quote -

> I'm asking this question for another person, so I don't know
> if I have enough detail; but can a one-person Colorado LLC
> use Schedule C (1040) to report income, etc for the LLC?

For the federal return, yes.

--
Paul A. Thomas, CPA
Athens, Georgia

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

#-1 01-17-2006, 01:27 AM

I'm asking this question for another person, so I don't know
if I have enough detail; but can a one-person Colorado LLC
use Schedule C (1040) to report income, etc for the LLC?

Thanks

--
To email me directly, remove CLUTTER.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

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