Where in Turbo Tax do I show my owner's draw and the self employment taxes i've paid quarterly?

1sunlover — Sat, 01 Jun 2019 07:10:36 GMT

If you are self-employed (sole proprietor or disregarded...

MichaelMc — Sat, 01 Jun 2019 07:10:38 GMT

If you are self-employed (sole proprietor or disregarded single-member LLC), you are going to be taxed on all of your business earnings, whether you take a draw or leave the money in the business. Therefore, your owner's draw has no tax consequences and does not need to be entered. This is not necessarily true for more complicated business entities.

You enter the estimated taxes you have paid in the Estimates and Other Taxes Paid section. This is located in the Personal tab > Deductions and Credits.

topic Where in Turbo Tax do I show my owner's draw and the self employment taxes i've paid quarterly? in Get your taxes done using TurboTax

Where in Turbo Tax do I show my owner's draw and the self employment taxes i've paid quarterly?

If you are self-employed (sole proprietor or disregarded...