I own a P.A.; do i issue a 1099 for myself for my salary? Am I required to deduct taxes from my pay and remit?

[ericcavanagh]

TurboTax is asking me if I made any payments that require me to file a 1099; d payments I made to myself require I file a 1099?  I receive 1099 income from my real estate broker because I'm an agent and run my business as a PA

[DanielV01]

If you pay yourself wages, where you withhold social security and medicare, then you do file a W-2 form.  But you are not required to issue yourself a 1099-MISC form since you are already claiming your business income as part of your tax return.

[ericcavanagh]

thanks for the answer; I don't withhold ss and medicare, so I guess I would have to issue myself a 1099, yes?

[DanielV01]

No.  That was the point in my answer.  You do not have to issue yourself a 1099.  You are already reconciling the income that you are claiming through your business on your own return.  You are not required to issue yourself a 1099.  Wages would be another story, but your portion of business income you earned is already reported through Schedule C.