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Retirement tax questions
If the LLC is a disregarded entity, the business's income goes on Schedule C (or Schedule F for a farming business) without any Form 1099-NEC except for those Forms 1099-NEC issued to you by other companies.
If the LLC is a partnership, the partnership is required to file Form 1065 and your income from self-employment is reported to you in box 14 of Schedule K-1 (Form 1065), not on Form 1099-NEC.
If the LCC is an S corp you are not self-employed and your wages are reported to you on Form W-2.
‎January 6, 2024
5:59 AM