How to file tax for my S Corp LLC without 1099

Forum|Forum|3 years ago
February 8, 2023
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I have an LLC structured as S Corp and I have income through that S Corp LLC.

I saw articles online mentioning that S Corp or S Corp LLC won't receive any 1099 form for its income. My question is how do I pay tax on that income for my S Corp LLC without 1099?

Not A Product Question

JohnB5677

If the S-Corp is your business, you should be preparing a separate tax return for that business. The S corporation does not pay income tax, it has a responsibility to file an annual tax return on Form 1120S. This tax form is for informational purposes only and provides the IRS with a view of the business' earnings and expenses.

As an individual you will get a K-1 that will report your income. This is what will be posted to your individual tax return.

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kiddkevin01Author

Thanks for your reply.

How about on the IRS side?

How does IRS know or confirm that I have that income if there is no communication between IRS and the company that paid me?

GeorgeM777

There is a communication between your LLC (which has elected to be taxed as an S Corp) and the IRS because the Schedule K-1 that your S-Corp issues to you also gets filed with the IRS. Your S Corp is required to forward a copy of the Schedule K-1 to the IRS.

@kiddkevin01

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