LLC partnership - Husband & Wife

Forum|Forum|3 years ago
April 4, 2023
2 replies
6 views

How should a Partnership DBA multiple entities file tax return? should all DBAs go on tax or should only the partnership name go on the Schedule C. They are not doing 1065 because its a husband wife Partnership.

ProConnect Tax

This topic has been closed for replies.

sjrcpa

Level 15

What makes you think this husband and wife owned LLC can file a Schedule C and not 1065?

The more I know the more I don’t know.

C

cem1109

Level 2

whether a husband-wife-owned LLC can file as a disregarded entity depends on if they are in a community property state. See Rev. Proc. 2002-69, 2002-2 C.B. 831

qbteachmt

Level 15

Perhaps you are trying to describe a Qualified Joint Venture? See this IRS reference:

https://www.irs.gov/businesses/small-businesses-self-employed/election-for-married-couples-unincorporated-businesses

But that is a mistake.

"A qualified joint venture, for purposes of this provision, includes only businesses that are owned and operated by spouses as co-owners, and not in the name of a state law entity (including a limited partnership or limited liability company)"

Don't yell at us; we're volunteers

N

Native EconAuthor

Level 2

Yes thats where i was going with it, A joint venture, but i guess it wouldn't be that since the LLC is under their name and just using it for protection. So thy created a LLC but under that do 3 different types of wok. So trying to see if it makes sense to do the 1065 for the LLC and a schedule C for the DBAs. The thing is they are putting the income in the LLC account so in a sense the side Gigs are just DBAs. 1 is marketing, Consulting the other is catering.

sjrcpa

Level 15

What did you end up doing 2 years ago?

The more I know the more I don’t know.

Sign up

Login with SSO

Let's get you signed in

Login with SSO

Scanning file for viruses.

This file cannot be downloaded