If my business owns another business how do I report that?

[WendyN2]

It depends on what type of business they are. Since you say "owns", I am thinking that you are referring to a Sub Chapter S, or possibly a full Corporation where you have a subsidiary of the "parent" Corporation. An S-Corp, again, depending on the articles of incorporation or partnership workpapers, have either a 1065 or 1120 typically. If you can provide more information I'd be more than happy to assist further.