How do you file taxes if you are a limited liability company?

It depends. Unless the owners of the LLC elect to have it treated as a corporation, then an LLC which has at least two members is treated as a partnership and files a partnership tax return, Form 1065 If there is only one member of the LLC, then the IRS disregards the LLC as a separate tax reporting entity entirely. If the single member is an individual, then the member reports the LLC's income and deductions on the individual's person 1040, usually on Schedule C (for a business) or Schedule E (for real estate) If the single member of the LLC is a corporation, partnership or trust, it likewise files the information on its entity tax return (1120, 1120 S, 1065, 1041, etc...) If the members of the LLC file an election, the LLC may be treated as a corporation or an S corp.In that case, the LLC would file an appropriate return (Form 1120 or 1120 S).

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