On Which Tax Form Does a Single Member LLC with One

question 18

Multiple Choice

On which tax form does a single member LLC with one individual owner report its income and losses?

• A) Form 1065.
• B) Form 1120.
• C) Form 1040, Schedule C.
• D) Form 1120S.

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Definitions:

Services

Economic activities offered by one party to another, often involving a form of work done for customers without the production of physical goods.

Success

Success refers to the achievement of a desired aim or outcome, often measured by accomplishing goals, accruing wealth, or receiving recognition.

Ideals-motivated

Driven by high standards or principles, often relating to ethical, moral, or perfectionist goals rather than practical considerations.

Higher Resources

Refers to the availability of increased or superior assets, whether financial, material, or human, for the purpose of achieving greater objectives or improving operations.