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posted May 31, 2019 5:06:08 PM

Tax Year Prior to 2020: I own my own business do I have a w2 as the owner in Turbo Tax?

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Level 5
May 31, 2019 5:06:08 PM

No, you do not issue yourself a W-2 or a 1099-MISC if you are the owner of a business filing a Schedule C as a Sole Proprietor.   All income and deductions from the Schedule C will simply flow onto your Federal Form 1040.

FYI - You would issue yourself a W-2 if you are filing as an S-Corporation (and in very rare instances in a Partnership).