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I and my partner have a multi-member LLC. Can I issue 1099 to my kids from my business? If so, use 1099-NEC?
I and my partner have a multi-member LLC. Before we file tax returns for the business, I want to issue 1099 to my kids for the work they've done for the business. Is it allowed/doable? If so, shall I use 1099-NEC or 1099-Misc for 2020 tax? Does Turbotax Business support this?
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‎January 10, 2021
11:18 PM