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Single-member LLC files Schedule C and makes payments to independent contractors by issuing 1099-MISC. Should the owner of LLC issue 1099-MISC for himself as a salary?

xuan150279
Level 3

The LLC is located in Georgia. How to file schedule C with single-member LLC ? thank you

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IRonMaN
Level 15

No, there is no "salary" for a single member LLC, unless they elected to be taxed as an S corp.  What he or she took out as a draw doesn't mean much since they are taxed on their income, not their draws.


Slava Ukraini!

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IRonMaN
Level 15

No, there is no "salary" for a single member LLC, unless they elected to be taxed as an S corp.  What he or she took out as a draw doesn't mean much since they are taxed on their income, not their draws.


Slava Ukraini!
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