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Self employed
@xanman2112 wrote:
Thanks! Do I still add the 1099-NEC on my personal tax return?
As stated by the TurboTax expert on this thread above your post -
If the 1099-NEC was issued to your LLC, the income needs to be added as income on your S-Corp return, Form 1120-S. The amount of the W2s that you issued will need to be included in your 1120-S as an expense. Your W2 amount will need to be reported as compensation of officers and the other W2s as salaries and wages.
March 11, 2024
10:19 AM