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Business & farm
I think you mean you declare some of the money you take from the business as wages reported on a W-2 form and then you take additional distributions. If so, you don't need to report the additional distributions on a 1099-NEC form to yourself as they would represent distribution of profits from the business. However, you do need to pay yourself a reasonable wage from the business, so if the distributions are excessive you should include them in with your W-2 wages.
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‎February 8, 2023
4:02 PM