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My wife is the owner of an LLC that we created over a year

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ago.She is the only member...
My wife is the owner of an LLC that we created over a year ago.She is the only member but it was classified as a c-corporate by default.It has been dormant until two months ago.I was unemployed and II believed that I had a non-compete.I did not.I really started putting energy into it and have done some business.We where wondering how would we go about making myself the owner of the LLC and make it a single member instead of a c-corp.
Submitted: 1 year ago.Category: Tax
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Answered in 1 hour by:
9/22/2016
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12,883
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Hi again ... You'll use form 8832 to request a change in tax treatment.

...

An LLC isn't a C-Corp by default, however. If you don't elect C-Corp or S-Corp taxation, the LLC is either treated as a disregarded entity (sole proprietorship) if only one member (owner in LLC terminology) or as a partnership if there is more than one owner.

...

See this: https://www.irs.gov/pub/irs-pdf/f8832.pdf

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