A single member LLC is taxed as a sole proprietorship. That is, the information about the LLC’s income and expenses, and its net income is prepared using Schedule C. The net income from the Schedule C is brought over to Line 12 of the owner’s personal tax return (Form 1040 or other).
A single-member LLC is considered a disregarded entity for income tax purposes. That is, the LLC and the owner are separate entities. This is the normal designation for a single-member LLC.
