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Get your taxes done using TurboTax
Dear melj1,
Thank you for getting back to me.
I understand what you are saying, and have a couple of follow on questions.
I started the company earlier this year and opened a business bank account a month later and put some personal funds into the account.
As per my company do I consider that as income and as per me personally is that an expense?
If it is income for the company, when I get the Schedule K and it passes to me, will I also have to pay tax on that initial capital investment as income?
Kind regards
‎November 16, 2022
9:14 PM