USA Must primary tax payer know about dependent's EIN# and new business for taxes?

Joined
Feb 22, 2020
Messages
14
Reaction score
0
Country
United States
Hi! My father is claiming me as a dependent for 2019. I started a LLC in 2019 that has its own EIN#. The LLC is an online retail dropshipping store, and neither it nor I made any income in 2019. I am also going to file for myself separately in order for the business to be put down on record as having filed taxes for its first year, however I haven't told my Dad about how I have a business EIN# and LLC, because I want to surprise him when I make money, and the anticipation of the surprise motivates me to work really hard. ;) Does he need to know about the EIN# and LLC for his taxes, please?
 

kirby

VIP Member
Joined
May 12, 2011
Messages
2,461
Reaction score
334
Country
United States

Above will teach you what qualifies for dependent test.
There is no test concerning whether or not you own an LLC or have a business EIN.
So by itself the fact that you have that does not need to be disclosed to him as it s not one of the tests.
 
Joined
Feb 22, 2020
Messages
14
Reaction score
0
Country
United States
Thank you for the help! It sounds strange not telling him, right? It is one of those dreams one should probably abandon where one can only keep going because of the end goal. At least, I'll try and build the business up to a little something he could be proud of … .
 

kirby

VIP Member
Joined
May 12, 2011
Messages
2,461
Reaction score
334
Country
United States
I think just the fact that you had the initiative to do this will make him proud. Good Luck!
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Members online

No members online now.

Forum statistics

Threads
11,775
Messages
27,839
Members
21,814
Latest member
alea2024

Latest Threads

Top