☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 3, 2019 5:54:11 PM

Hey, if i paid myself with my small business, do i have to issue myself a 1099?

i'm a musician, my band is the business

0 3 522
1 Best answer
Level 7
Jun 3, 2019 5:54:12 PM

No, as a sole proprietor or Single Member LLC, you should not issue yourself a 1099 or W-2 to draw from your own business account.

Further, there is no deduction to be made


3 Replies
Level 7
Jun 3, 2019 5:54:12 PM

No, as a sole proprietor or Single Member LLC, you should not issue yourself a 1099 or W-2 to draw from your own business account.

Further, there is no deduction to be made


New Member
Jun 3, 2019 5:54:14 PM

so even if we're only a partnership?

Level 7
Jun 3, 2019 5:54:16 PM

Are you a multi member LLC?