I live in a community property state, so husband and I file our taxes as two schedule C's, split in half with profits and expenses from our shared business. Since we share the business 50/50, I've followed instructions of creating one schedule C that reflects everything from the entire business and then splitting everything down the middle and going back and creating a schedule C for each of us, with each having half of the earnings, expenses, etc. But I'm not sure what to do with a SEP contribution I made last year? I put $600 into a SEP account that I have as sole owner. So I'm thinking that I can't really put half under his name (i.e. give him credit for making a $300 SEP contribution and me credit for a $300 SEP contribution), since that account is in no way associated with his SSN and his name isn't anywhere on it. But then if I put the entire $600 under my schedule C that reflects half of everything else for the two of us, is that going to be a problem that I didn't split that one line item 50/50?
Yes, you can show your SEP contribution separately on your Schedule C. Remember that your contribution limits will be based on the Net Income shown on your Schedule C.
Click this link for more info on Separate SEP Contributions.