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Business & farm
Do you file your LLC separately as an 1120 S corp or just on your 1040 return Sschedule C? If you file schedule C the net profit or loss is your personal money and you can put it in or take it out without reporting it. On schedule C you only report actual income received and actual expenses paid out of pocket. You do not report what you pay yourself or take out.
May 31, 2019
5:52 PM