- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
It depends on the entity being used in the LLC such as partnership, s-corporation, etc. If they file a return for the LLC, then the income will be transferred through a K-1 or a W-2 which would be reported on your return.
If your husband was subcontracted by the LLC for his service, then he would report the income as self employment. However, if it is a s-corporation, then any payment could be wages. Both of these actions would require either a 1099-NEC or a W-2.
If it is not a return of his capital invested in the LLC, then there would be nothing to report until he recovers his full investment in it.
We may need additional information to fully answer your question.
**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"
March 5, 2025
10:08 AM