We each own 50% in the LLC but I'm the Manager. She does not work in the LLC in any way. The business had no profit for the year and will incur a large loss. What are the implications if I just file one Schedule C? My spouse is a fulltime student and does not work.
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Since you are a multi-member LLC in Arizona (and both members are spouses), you will have to file two Schedule Cs, one for each of you. You will split the income and deductions 50/50 on each Schedule C.
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