Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

IRS says my LLC is recorded as a sole proprietorship. How…

Customer Question
IRS says my LLC...

IRS says my LLC is recorded as a sole proprietorship. How can I get that corrected to a Limited Lability Corporation (Partnership)?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

IRS records show my LLC is listed as a sole proprietorship. How can I get that corrected to show a Limited Liability Corporations (Partnership)?

Submitted: 1 month ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 7 minutes by:
3/19/2018
Tax Professional: Barbara, Enrolled Agent replied 1 month ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,766
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

An LLC is a disregarded entity for tax purposes, and a single member LLC defaults to a sole proprietorship, not a partnership.

Do you have other members of the LLC?

Ask Your Own Tax Question
Was this answer helpful?
Ask Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
586 Satisfied Customers
Experience: 10 years experience

Wallstreet Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,451 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

56 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,124 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
My son was a partner in an LLC last year but the partnership
my son was a partner in an LLC last year but the partnership has dissolved, not on good terms. the "partner" said he was going to file taxes for the LLC but will not give my son paperwork with which t… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
If I am converting an LLC taxed as a partnership to be taxed
Quick question. If I am converting an LLC taxed as a partnership to be taxed as an s corp, would the 1065 for the year prior to the switch be considered a final even though I will be using same ein fo… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
We started an LLC (partnership, Delaware). It was just me
We started an LLC (partnership, Delaware). It was just me and my partner 50/50. We each owned certificates saying such. We each sold 20% to another individual. He made the check out to us personally. … read more
Mike-USACPA
Mike-USACPA
9 satisfied customers
My wife & I have a partnership in a LLC that owes close to
My wife & I have a partnership in a LLC that owes close to $5000 to the IRS - penalty for being late reporting for the tax year 2013. The LLC is dissolved, but I just got a notice from IRS of a Levy o… read more
Carter McBride
Carter McBride
LLM
957 satisfied customers
I have a LLC in the US. It is a partnership of two
Hi, I have a LLC in the US. It is a partnership of two non-resident aliens. A potential customer is asking us for a W9 which AFAIK we can't sign W9 as NRA. What can we provide as a partnership to the … read more
Barbara
Barbara
Enrolled Agent
5,766 satisfied customers
We have an LLC taxed as a partnership. The only asset on the
We have an LLC taxed as a partnership. The only asset on the books is an Invest we made for 20% share in another LP. I just got the K1 the partnership capital account shows the beg contribution of 500… read more
taxmanrog
taxmanrog
Master\u0027s Degree
897 satisfied customers
Can an LLC taxed as a partnership with only husband and wife
can an LLC taxed as a partnership with only husband and wife owners elect to be a joint venture and put everything on schedule C's? If so, do they need to do an 8832?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,124 satisfied customers
I am applying for a partnership LLC and not sure how to
Good morning, I am applying for a partnership LLC and not sure how to answer line 7a on IRS form SS-4. … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,451 satisfied customers
A multi-member partnership (LLC) made expense allocations to
A multi-member partnership (LLC) made expense allocations to two of its c-corp subsidiaries. Thus, there are three legal entities with their own set of books. For example, the parent incurred $1500 in… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
916 satisfied customers
I have an existing LLC which filed as a partnership and then
I have an existing LLC which filed as a partnership and then as a schedule when it became a one member LLC. I now want to be treated as an s-corp in 2018. Do I need to file both 8832 and 2553 or just … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,451 satisfied customers
Tax Experts - Foreign partner US LLC partnership had one
Tax Experts - Foreign partnerUS LLC partnership had one foreign partner (42.50%) from Italy. In order to get k-1 and pay taxes, foreign partner applied for federal ID which was used by US LLC to repor… read more
taxmanrog
taxmanrog
Master\u0027s Degree
897 satisfied customers
Second opinion] I created an LLC taxed as a partnership with
Second opinion] I created an LLC taxed as a partnership with my Solo 401k but I have not decided on the allocation of profit loss and ownership. I understand the basic concept of economic substance be… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,048 satisfied customers
I created an LLC taxed as a partnership with my Solo 401k
Hey Carter,I created an LLC taxed as a partnership with my Solo 401k but I have not decided on the allocation of profit loss and ownership. What structure would be best to maximize my tax savings cons… read more
Carter McBride
Carter McBride
LLM
957 satisfied customers
Is the owner of an LLC responsible for the liabilities of an
is the owner of an LLC responsible for the liabilities of an asset sale? … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
916 satisfied customers
I have an LLC that was taxed as a partnership, with two
I have an LLC that was taxed as a partnership, with two members who each owned 50%. My partner is leaving the partnership (as of 12/31/17) and I would now like to continue as an LLC with a sole propri… read more
Barbara
Barbara
Enrolled Agent
5,766 satisfied customers
I have an LLC that's taxed as a partnership, and my partner
I have an LLC that's taxed as a partnership, and my partner will no longer be involved. I want to switch it to an LLC taxed as a sole proprietorship. This change took place on 1/1/18. For my 2017 taxe… read more
abci168
abci168
Principal
27 satisfied customers
Should LLCs listed as a Partnership (P) or Individual/sole
Should LLCs listed as a Partnership (P) or Individual/sole proprietor or single-member LLC receive 1099-misc?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Can an LLC (partnership) pay taxes on income and avoid the
Can an LLC (partnership) pay taxes on income and avoid the partners having to pay the taxes?… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,048 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x