SusanOP
Level 2
02-19-2020
02:22 PM
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No. If you're filing as a single member LLC or a sole proprietor on Schedule C, then money that the owner draws from the company doesn't show up anywhere on Schedule C or elsewhere on the tax return.
Just to be clear: this answer is referring only to an owner's draw. If you actually meant a partner distribution or a distribution from an S-Corp, then you might want to rephrase your question.
Hope that helps!