dmertz
Level 15

Deductions & credits

Either you are handling your business taxes incorrectly or the answer provided by TurboTaxAnnetteB is incorrect.

Is your LLC an S corporation issuing a Schedule K-1 (Form 1120S), a partnership issuing a Schedule K-1 (Form 1065), or  a disregarded entity and you report your income on Schedule C?

<a rel="nofollow" target="_blank" href="https://www.irs.gov/businesses/small-businesses-self-employed/llc-filing-as-a-corporation-or-partner...>