On which form is income from a single-member LLC with one corporate (C corporation)owner reported?
A)Form 1120 used by C corporations to report their income.
B)Form 1120S used by S corporations to report their income.
C)Form 1065 used by partnerships to report their income.
D)Form 1040, Schedule C used by sole proprietorships to report their income.
E)None of the choices are correct.

Question

Quizplus · Accepted Answer

A single-member LLC with one corporate (C corporation) owner would report its income on Form 1120, which is the form used by C corporations to report their income. This is because the LLC is disregarded as an entity separate from its owner for federal income tax purposes, and the corporate owner would report the LLC's income as its own.

On Which Form Is Income from a Single-Member LLC with One