- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thank you for responding to me!
I had it that way originally, but when I saw that the IRS made the checks payable to the business and used the business EIN on the 1099-INT, that made me think I needed to use their Schedule C to report the interest and then also, I deducted the fee paid to the specialist company that prepared the 941X. but I guess not... I just eat that cost and cannot reduce the taxable interest income by what I paid them for their work?
.
Yes, the businesses are closed and no returns have been filed after the second year closed - misc expenses and payments that happened in January (cash basis) - two of the LLCs have not been closed, but the third one, yes.
Thanks again.
‎April 23, 2025
4:56 PM