How does a married couple with an llc file? Do i need 2 schedule c and a k1? All the income was on a 1099 with the company ein

[MinhT · Accepted solution]

If you live in a community property state, your LLC is a disregarded entity and you report the LLC's income and expenses on one Schedule C in your joint personal tax return.

Community property states are: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

If you live in another state, then your LLC is not a disregarded entity and has to file its own tax return on form 1065. As part of the LLC's tax return, each spouse will have a 1065 Schedule K-1. You then enter both schedules K-1 on yor personal tax return.

To file form 1065 for the LLC, you'll need to use TurboTax Business (CD/Download).

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

[tara91704]

Yes we live in texas. Thankyou!