I have a small business as a single member LLC. On schedule C, TurboTax asks for a 1099 MISC, 1099-K, cash, checks for income. How do I report income for draws?

[Ashby]

Your income is all money you receive into your business. These payments are by check, credit card, cash, etc.

Draws are the money you take out of your business for your personal expenditures. You do not report draws. 

You just enter all your income and all your expenses for your Schedule C. What's left over is your profit. You may have taken that our for personal use or left it in the business. But, all the profit gets reported in the same year whether you spent it or not.

[Ashby]

I'm sorry my answer was not helpful. Perhaps, I misunderstood your question? What do you mean by draws?

[rockcece]

I appreciate your response. I do not know how to report the business income. Do I do it as 1099 MISC, 1099-K, cash, checks,  etc? The business is paid via check and credit/debit card from customers.
I only take a personal salary through the business writing me a check.

[Ashby]

Yes, you just report the income as checks and credit cards. You may not have any 1099-MISC if you're doing your work for individuals. You should receive a 1099-K from your credit card merchant account, but you can just report the number as total credit cards if you don't have it.

[Ashby]

You do not report your personal salary in any way. The program computes profit after you enter your income and deduct expenses. For tax purposes, that's your total income or salary.

[rockcece]

Ok. Thank you. That was my problem. I was not getting 1099s. I understand now.