You'll need to sign in or create an account to connect with an expert.
I assume you're a sole proprietor filing Schedule C and that you're not using a corporation or an LLC to operate your business. If that's true, you should enter all your business expenses into TurboTax, regardless of where the money to pay these expenses came from. You don't get an additional deduction for spending money from your retirement income on the business.
I assume you're a sole proprietor filing Schedule C and that you're not using a corporation or an LLC to operate your business. If that's true, you should enter all your business expenses into TurboTax, regardless of where the money to pay these expenses came from. You don't get an additional deduction for spending money from your retirement income on the business.
I am running my business as an LLC , not as sole proprietor. Does that make a difference about added funds from my retirement fund to supplement my business?
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
BigDonS
Returning Member
creditrepairserv
New Member
sam992116
Level 3
tiffanyraewebb
New Member
k2allar
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.