- 1). Go through your receipts and other tax documents and make three piles: one for personal use, one for business use and one for those items you are not sure about. These items will be used to fill out part of your tax forms. For example, you will enter receipts for business expenses on your LLC tax form, and personal charitable donations on your personal tax form.
- 2). Look at the pile of receipts and documents you are unsure about. An example might be a bill for a cell phone used for both business and personal purposes. Ask yourself if the item was used exclusively for business or personal use. Then put it in the appropriate pile. If you only partially use an item for business or personal use, then you need to make a copy of the document or receipt so that it can go in both piles with a note on it that says "partial use" or something similar.
- 3). Obtain IRS tax form 1040 for your personal taxes. Download it from the IRS website, or get it from your post office or local library. When filling out the form, include any deductions or expenses from the pile of receipts and tax documents that you have collected.
- 4). Use IRS tax form 1065 for a multi-member LLC. Schedule K-1 forms are given to each member to show his personal income or loss from the LLC. Then, members use Schedule E to list the loss or income on their form 1040. Use the business receipts or other tax documents you have collected to complete the 1065.
- 5). Use IRS Schedule C to list your income or loss from your LLC separately on your form 1040 if it is a single-owner LLC.
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