- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Does my LLC have to give me a 1099?
I do 1099 contract work for a company as my sole source of income. I created an LLC to protect myself and got an EIN. The company i contract for created a 1099 in my name and the LLCs name with the LLCs EIN. Does my LLC then have to provide me as the only person in the LLC with a 1099 or can I just use the one i got with my LLCs ein?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Does my LLC have to give me a 1099?
If this is a single member LLC, fo which you file a schedule C as part of your personal tax return, you just enter it under the Schdule C business. You do not send yourself a 1099 or report the 1099 again under Personal income. All the profit of the business automatically flows to you and is considered your income. You can use the Home and Business you have.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Does my LLC have to give me a 1099?
[updated]
Not if it is a single member LLC. Then the income reported on Form 1099-MISC issued to your LLC will be reported on Schedule C of your personal tax return and therefore part of your total income.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Does my LLC have to give me a 1099?
Still have questions?
Make a post