- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
Unfortunately, no. If you are filing a Schedule C as a sole proprietor, then the amounts you contribute to the business don't get entered anywhere on the tax return. The Schedule C is simply netted with your other personal income and expenses on your form 1040. It's as if it's all your "personal" money as far as filing your taxes are concerned. Also, you don't pay yourself or issue a 1099-MISC or W-2. There is also no deduction for an Owner's Draw.
‎June 3, 2019
10:48 AM