Married couple own 50/50 sole proprietor business filing jointly.
Turbo tax says I need two schedule C's split between us.
Tax preparer in the past listed us both in the schedule c.
Is there any way to do that?
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Even if he listed both spouses on a single Schedule C only 1 person got credit for it. You really need 2 separate Schedule C and Schedule SEs. He did it wrong.
So what happens if our CC Processor issues a 1099-K to one of us. I split that amount artificially between two schedule Cs?
Yes. Or you enter the whole amount on the schedule C for that ssn and then enter an expense (probably Contract Labor) for the half that goes to the other schedule C.
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