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Do I need to create a 1099misc for my income received, if I own a partnership with my husband?

 
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IsabellaG
Employee Tax Expert

Do I need to create a 1099misc for my income received, if I own a partnership with my husband?

1099-Misc wouldn't be the form you would use for a partnership. If this was truly a partnership with only your husband and you as partners, you should have filed form 1065, US Return of Partnership Income, then you and your husband would each receive form K-1 for your share of the income.

If you had an LLC, and you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.) you can consider your LLC a disregarded entity, and file 2 Schedule C's with your return, dividing your income/expenses between you. See this link under Qualified Joint Ventures.

If you don't live in a community property state, you would need to file a Partnership return for this business.

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