We received one 1099 misc for our LLC business. How I separate it for two schedule C's. We are filing as a joint venture.

posted

Connect with an expert

1 Best answer

Accepted Solutions

We received one 1099 misc for our LLC business. How I separate it for two schedule C's. We are filing as a joint venture.

I have never actually done this myself but I don't see why it wouldn't work. Just like all your other income and expenses, enter a 1099-MISC with half the amount on each schedule C. Make it look like you got two 1099-MISC's with half the total on each. When entering the 1099 it will ask "This 1099-MISC is For" check the appropriate box (you or your spouse).

View solution in original post

1 Reply

We received one 1099 misc for our LLC business. How I separate it for two schedule C's. We are filing as a joint venture.

I have never actually done this myself but I don't see why it wouldn't work. Just like all your other income and expenses, enter a 1099-MISC with half the amount on each schedule C. Make it look like you got two 1099-MISC's with half the total on each. When entering the 1099 it will ask "This 1099-MISC is For" check the appropriate box (you or your spouse).