KrisD15
Expert Alumni

Business & farm

Schedule C is a Sole-Proprietorship. 

A Sole-Proprietor is a "pass-through" tax entity, meaning the income on the Schedule C is your income. 

A Sole-proprietorship can have employees, but the owner (you) cannot be an employee, you are Self-Employed. 

 

If the Title Company sends you a 1099-MISC or 1099-NEC, you enter that as business income. 

If you pay agents, you report their yearly payment using 1099-NEC and they enter that income on their Schedule C.

You also report expenses. 

The result is your income, you don't issue an income document (1099-NEC) to yourself. 

The income on the schedule C flows to Schedule 1 and then flows to your 1040 line 8.

 

 

 

HERE is a link with more information. 

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