- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
What is the 1099 for and what type of 1099 is it?
If the LLC is the reason you are getting the 1099, then yes, you would include this income on your LLC return. If you are a single member LLC and did not choose to be treated as an S-Corp, this would be entered on your Schedule C. You can do this using TurboTax Home and Business or TurboTax Premium.
If this income has nothing to do with the LLC type of work, then no, you would not include it with the LLC income. You would file a separate Schedule C that included the 1099 income for services performed.
If this is a 1099 that is for retirement, or something other than business related, you would not include it on Schedule C, instead you would enter it under the appropriate category in TurboTax. For example, if is it a SSA-1099, you would enter SSA-1099 in the search box then click JumpTo and enter it as retirement social security.
**Mark the post that answers your question by clicking on "Mark as Best Answer"