Is my LLC considered a partnership for the purpose...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
jrcayer
New Member

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?

I am referring to box 3 of the W9 form.
7 Replies
Anonymous
Not applicable

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?

yes.  you most likely should be filing a partnership return.  the tax law provision that would let you report the business activity on either 2 schedule C's or E's (a qualified joint venture) does not apply to an h/w LLC. 

Rick19744
Level 11

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?

Yes and No.

There is a specific box to mark for LLC and then you will make the partnership designation.

Just want to be clear that you don't mark the partnership box.

*A reminder that posts in a forum such as this do not constitute tax advice.*
Anonymous
Not applicable

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?

@Rick19744 you are wrong. the LLC is for a single-member LLC only. here we have husband and wife - a partnership.  

Critter-3
Level 15

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?

The W-9 form is quite clear ... a single member LLC defaults to  a Sole Prop &  a multi member LLC  defaults to a Partnership unless the entity choose to be filed as a Corporation or an S-Corp ... you should know what you choose on the SS-4 form when you applied for the EIN ...

 

1.png2.png

tagteam
Level 15

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?


@Anonymous wrote:

@Rick19744 you are wrong. the LLC is for a single-member LLC only. here we have husband and wife - a partnership.  


@Anonymous: @Rick19744, I believe, was referring to the "Limited liability company" box in Section 3 on the W-9 that is directly below the first row of checkboxes (see @Critter-3's screenshot). That box would be checked and then a "P" would be entered to designate "partnership".

Rick19744
Level 11

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?

Yep.  Agree with @tagteam understanding of my response to the W-9 question.

 

 

 

*A reminder that posts in a forum such as this do not constitute tax advice.*
Carl
Level 15

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?

Understand that if your LLC has more than one partner/member/owner listed on the registration with the state, it's not "considered" a partnership. It ***IS*** a partnership/multi-member LLC.

If you do not live in a community property state, then you're required a file the 1065 Partnership Return.

 

Dynamic AdsDynamic Ads
v
Privacy Settings