Business & farm

No, she does not give herself a Form 1099-MISC for the income from her business.  Her net profit or loss is already reported on the Schedule C and on the Schedule 1 Line 3.

A Form 1099-MISC is given to a non-employee (not a company) who has provided a service to her business and then only if the service provided is $600 or more.

 

If the LLC you are considering is a single-member LLC that is not incorporated with the state, then the IRS considers this type of LLC as a disregarded entity with the income and expenses from the LLC entered on a Schedule C.

Go to this IRS website for Single Member LLC information - https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-compan...

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