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February 21, 2025
Question

Me and my wife are both listed on the LLC do we need to file this as business or can we file a schedule C how does this wrok

  • February 21, 2025
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    February 21, 2025

    Domestic Partnerships
    Except as provided below, every domestic partnership must file Form 1065, unless it neither receives income nor incurs any expenditures treated as deductions or credits for federal income tax purposes

    Entities formed as LLCs that are classified as partnerships for federal income tax purposes have the same filing requirements as domestic partnerships

     

     

    it is not permitted for a multimember LLC for each member to file a schedule C. The qualified joint venture option is not available.