- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You probably don't really want your investment (passive) income on your Schedule C as that gets self-employment taxes applied. The income needs to go to the correct Schedule to be taxed correctly.
Having said that, if you wish to label an income source on Schedule B you can. When entering the account form (1099-DIV or 1099-INT for example) in the "Received from" box you can enter information to ID the source for information purposes. For example, for a 1099-INT from Wells Fargo that is an LLC account you could type in "Wells Fargo (LLC)" or your business name/nickname/abbrev.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 18, 2024
6:58 AM