Business Income Personal Contributions

[jmpilo]

Started my first business last year, 2019. 

Should I include my personal contributions as part of my business income for tax year 2019?  Thanks, Joe 

[BillM223]

You mean, money you put in to cover initial expenses? No, you don't report that as income to the Schedule C business.

However, if you this money on business expenses, then you can claim the expenses as deductions.

In the same way, when you take money out of the business (sometimes called the "owner's draw") you don't report that an expense.