Question

How Do I split out a ?schedule C? on our joint return??? My wife and I work together on each inspection and proceeds go in to our joint account.

Forum|Forum|7 years ago
June 5, 2019
1 reply
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Both my wife and I do these Insurance Inspections jointly and put the proceeds in a joint account. As retirees who have returned to part time work out of necessity, we can't afford the higher priced options for help with our joint return.

TurboTax Self Employed Online

N

nheid333

It kind of depends on how your business is organized and what would be allowed by the IRS. Are you a sole proprietorship, partnership, or LLC, or corporation of some sort? In some circumstances, the IRS allows husband and wife to enter the business income on one Schedule C for the business. You might look up "Joint Qualified Venture" and see how it fits your situation.