Level 5

Question about a Schedule C Company location issue

Forum|Forum|1 year ago
January 13, 2025
1 reply
9 views

Background: I am trying to amend my 2023 individual tax return (form 1040 with a VA state return) because I forgot to include a Schedule C company (SMLLC) in my original filed 2023 return. The issue is that this company is located in Florida, but I live and work in Virginia. I am planning to just add this Schedule C business to my 2023 individual return and that's all I am planning to do for the amended return.

My question is if there is any special form/treatment needs to be done about this situation except for adding a Schedule C to my Form 1040. Not sure how the location issue will affect my state returns such as VA and FL.

Any advice would be appreciated!

Thank you!

Practice Advice

George4Tacks

Level 15

I assume taxpayer is a VA resident, doing business in FL. That income is reportable on the VA return. You need to research whether anything needs to be filed in FL. I think there is an annual report.

I am pretty sure there is no FL tax, so there would be no credit on VA for taxes paid to another state.

Answers are easy. Questions are hard!

W

workhard2022Author

Level 5

Thank you so much for your thoughts!

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