Question

I filled taxes jointly with my wife but she just got a 1099 and wants to file it on her own. Is over $10k.We have a LLC business. My question is: do we need to send an

Forum|Forum|4 years ago
April 3, 2022
1 reply
0 views

amend to file taxes married separately? or she can claim that 1090 with the business?

TurboTax Live Deluxe Online

Yes, if you wish to file separately, you must amend.

You say, "We have an LLC business." What type? is it a partnership? If you both have a business and the 1099 is for that business, then the income belongs to that business. If it was issued in your wife's name, she should file a Schedule C and expense that income to the partnership.

P

paolocarlos85Author

Yes the 1099 is under her name. Our business is an LCC, not sure if is partnership cuz she takes care of that. I’m the president of the business only.

so to be clear, if she file that 1099 under the business with the schedule c , no amended is required for our personal taxes (filling jointly)

JohnB5677

You will have to amend your taxes anyway if you've got a 1099 that you haven't reported. It doesn't sound like you've incorporated so you should not have to file an 1120-S or 1041 tax return yet. You have two choices.

You will have to file a Schedule C.

This can be filed either jointly, or separately. One thing to remember is that if you file separately, and you itemize your personal deductions, you both have to use itemized. This usually results in one spouse getting no personal deduction. If you use the standard deduction you will each get half:

For single taxpayers and married individuals filing separately, the standard deduction is $12,550 in 2021.

For married couples filing jointly is $25,100, and

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"