I own an LLC sole proprietor. How do i report that I paid income to my children? I paid them the max allowed. I dont see where to enter this.

Forum|Forum|1 year ago
February 3, 2025
1 reply
0 views

No text available

DawnC

According to the IRS, if you are self-employed or own a business, you can employ your child and deduct their wages as a business expense which in turn reduces your taxable profit. A single member LLC is reported on Schedule C of your personal 1040.

Where do I enter self-employed business expenses? In TurboTax Online, the expense category is Employee Wages. In TurboTax Desktop Home & Business, the category is Employee Expenses.

Employing Your Children in Your Business

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"