qualified joint venture
I would like to see the ability to prepare the second schedule of income for a qualified joint venture from the original input screen instead of having to create the second input screen and manually calculate the split. I have a husband and wife client with 2 schedule F and 3 schedule E rentals, and they want to report everything 50/50. I see on the input screen that I can select Taxpayer, Spouse, or Joint. Why give me the choice of joint if the only purpose is to generate a diagnostic telling me to perform the function manually? I don't pay for tax prep software to increase my manual tasks. It seems to me that if you can create multiple K-1s based on a taxpayer identification including a percentage of allocation, then selecting to do the same with qualified joint ventures in 1040s should be available.
