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How do I file for myself and the company separately? how do I send 1099 to ppl I paid?

 
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DDollar
Expert Alumni

How do I file for myself and the company separately? how do I send 1099 to ppl I paid?

If your business is a C-Corporation, an S-Corporation, a partnership, a multi-member LLC, or a single member LLC that has elected to be tax as an S-Corporation, then you can filet he business return using TurboTax Business.  If your business isn't one the above, then you're self-employed and you file your business tax on Schedule C as part of your personal tax return.  For information and to get started with TurboTax Business go to: TurboTax Business

In order to create W-2s and 1099 forms in TurboTax Self-Employed or TurboTax Business, you'll need to go back to the initial opening screen that appears when you first launch the program.

1. If you are using TurboTax Self-Employed, you can follow these steps:

  • Log in and if you see “Continue my taxes”, select that and it will take you to welcome screen
  • On the Welcome screen you should see “Manage Your Return” section and “Manage Your Account” section.
  • Under “Manage Your Return,” you should see “Create W-2s and 1099s”
  • Once you select “Create W-2s and 1099s,” another window will pop up and this will be the Quick Employer Forms window.
  • This is where you either log in or create an account and then create W-2s and 1099s.

2. If you are using TurboTax Business, then you can follow the instructions in this TurboTax FAQ:

 How do I create W-2 and 1099 forms in TurboTax Business?

 For information on Quick Employer Forms, see the following TurboTax FAQ:



karika30
New Member

How do I file for myself and the company separately? how do I send 1099 to ppl I paid?

what if i started with regular turbotax i have a resturant

How do I file for myself and the company separately? how do I send 1099 to ppl I paid?

If you own a restaurant, there is a lot of filing that needs to be done aside from personal income tax. There is payroll tax, sales tax, possibly 1099 filing.

To help with the income tax filing, we need to know the type of entity you have. If you have a single member LLC, you can continue with regular turbo tax (if it is the online version) and then just upgrade to self-employment.

If you are using the desktop version, you would have to purchase the "Home and Business" program.

Then you have Turbo Tax Business desktop which is for Partnerships and Corporations. First thing you need to do it check your formation documents. The Employer Identification Letter will let you know the type of entity, by the form it tells you need to file. If it says 1065 or 1120, then you need the business desktop.

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