Do my daughter and I both file Form 1065 for our partnership? Tax ID number is only in one name but we share gains/losses. Can we file this with our spouses returns?

kenifer · ‎June 3, 2019

We prefer to not do a separate return for the business but are unsure how to proceed. I file online and she uses a preparer. I want to be sure she has all the info she needs before she takes her paperwork to them. Please help!

MinhT · ‎June 3, 2019

If you have a partnership with your daughter, you'll need to file ONE tax return for the partnership (form 1065).

To file form 1065, you'll need to use TurboTax Business CD/Download which is available on Windows platforms. It is not available for Mac computers.

https://turbotax.intuit.com/small-business-taxes/

As part of form 1065, each partner will receive a Schedule K-1. That schedule K-1 will then be entered in your respective joint personal tax returns.

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MinhT · ‎June 3, 2019

If you have a partnership with your daughter, you'll need to file ONE tax return for the partnership (form 1065).

To file form 1065, you'll need to use TurboTax Business CD/Download which is available on Windows platforms. It is not available for Mac computers.

https://turbotax.intuit.com/small-business-taxes/

As part of form 1065, each partner will receive a Schedule K-1. That schedule K-1 will then be entered in your respective joint personal tax returns.

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

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Do my daughter and I both file Form 1065 for our partnership? Tax ID number is only in one name but we share gains/losses. Can we file this with our spouses returns?