<p>I've seen a few posts on this, but not quite my situation.</p>
<p>I have an LLC through which I run a small consulting business. I receive a K-1 and run the company's profits/losses through Schedule E and line 17 on my Form 1040. I do not file a Schedule C.</p>
<p>On the CSS, I will mark myself as owning 1 company, but do I mark myself as self-employed? I called College Board and they said I am self-employed, but I'm not sure the person understood.</p>
<p>Thanks for your thoughts.</p>
<p>I have an S Corporation (consulting business), also receive a K-1. I do NOT mark myself as self employed. The IRS does not consider me to be self employed. I do put “1” in any field asking the number of employees for my company (can’t recall which forms ask for it, but somewhere in the financial aid maze it has been requested). I believe you are right, the CSS person did not understand.</p>
<p>Thanks for your quick reply intparent.</p>
<p>I just finished looking around the IRS website and other business sites, and it appears that owners of LLCs are considered self-employed. Might be a different case for s-corps.</p>
<p>
The CSS Profile’s Business/Farm Supplement is the one that asks that question. The B/F supplement is requried by some schools, not all.</p>