Form 3115 for Sch C business

Technical topics regarding tax preparation.
#1
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Location:
North Carolina
Evening! My client files a joint return with her spouse. She owns SMLLC which is disregarded. She's switching from cash to accrual and I want to make sure the 3115 is completed correctly and doesn't accidentally look like it applies to anything other than her SMLLC. I've only done one of these things, and it was for a corp, so I'm not sure I'm correct on the name/applicant section. 3115 instructions state:

Individuals. If Form 3115 is filed for a couple who file a joint
income tax return, enter the names of both spouses on the first
line and the signatures of both spouses on the signature line

I don't know if this instruction applies to this 3115, given that the change is only applicable to her business, and not to anything else on their joint return. Right now, I have both of their names and SSNs as the Name of Filer. I have the name of her business as Name of Applicant. The business has an EIN, but I don't have that on this form anywhere. Is that correct, or should the name of both filer and applicant be her business name, with EIN?

Thanks!
 

#2
Coddington  
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Fort Worth, TX
Both spouses on form. LLC name and EIN on Name of Applicant (if different from filer) line.
-Brian

Director of Tax Accounting Methods & Credits
SourceAdvisors.com

Opinions my own.
 

#3
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198
Joined:
17-Nov-2014 2:06pm
Location:
North Carolina
Thank you so much!
 


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