FAA4.I Earned Income (EAIN EAIC) : 03 Earned Income Types - Overview : H Money Withdrawn from an LLC Business Account
H Money Withdrawn from an LLC Business Account
 
(04/01/12 - 06/30/12)
Money withdrawn from an LLC business account to pay for personal expenses is countable as earned income.
 
Personal expenses include, but are not limited to, the following:
 
Car payment
Entertainment
Food
Homeowner’s Insurance
Mortgage payment
Utility payment
 
Key the income on EAIC using the OT Earned Income Code.