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Nchumg
New Member

Is a sole proprietorship LLC income filed as self employed on my return?

I cant seem to find a way to deduct W2 wages for my LLC. as of now its under self employed is that a mistake?
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3 Replies

Is a sole proprietorship LLC income filed as self employed on my return?

If you are a single member LLC that did NOT incorporate then you need to file a Sch C on your personal income tax return.   If you paid employees (NOT yourself) then you will indicate you had employees in the business info tab and then the employee section in the expenses area will be populated.   

 

If you had NO employees  and by accident you paid wages to yourself AND filed quarterly/annual payroll reports then RUN to a local tax pro who can help you untie the knots you are in correctly. 

Nchumg
New Member

Is a sole proprietorship LLC income filed as self employed on my return?

Thank you for your clear response. It seems that I am listing the income properly under self-employed, I was able to find how to add W-2 for employees, however, it only allows for specific expense deductions. Since I run a overnight camp, there are many types of expenses that don't have any category, how do I list them as deductions or do I have to pay taxes on them?

Thank you. 

ColeenD3
Expert Alumni

Is a sole proprietorship LLC income filed as self employed on my return?

Any expense that does not have a specific category is a miscellaneous expense with an explanation.

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