If you are filing a Schedule C for self employment or as a Single Member LLC or Sole Proprietor, etc. you cannot take a withdrawal or salary and include it as an expense on your tax return. You are not an employee of the business. You don't pay yourself or enter a salary or withdrawal for yourself. All the business income and expenses are your personal income and expenses in the first place. You just fill out a Schedule C. The net profit or loss is your income. If you have a net profit of $400 or more on schedule C you will pay SE self employment tax on it in addition to your regular income tax. It's all included on your personal 1040 form.
You don't enter your withdraws. Just show the banks your tax return and schedule C. Looks like you have the Desktop Home & Business program. You can go back and jump around and edit anything. Or switch to Forms Mode to look at it.
To edit Schedule C
Go to Business tab- then Continue
Choose Jump to Full List -or I'll choose what I work on
Then…..
Business Income and Expenses - Click the Start or Update button
Then click EDIT by the business name and the next screen should be a list of topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.
Under Business Expenses, Click Start or Update by Other common business expenses
