How do I enter 1099 for business partnership?

[jlynn0703]

My husband and I have a partnership but only one 1099-MISC. According to the home and business, we need to split expenses 50/50, but how do we enter the 1099 for income? Do we split it or does it just go under one person?

[LynnD · Accepted solution]

You will complete a Schedule C based on each partner's share. 

You can just add up the total income and report that as 'General Income', based on each party's share. For example, if all income totals $1000; based on the information above, you would enter $500 for yourself and $500 for yourself. Otherwise, you're creating 1099s that do not exist.

See the following IRS documents for more information:

Husband and Wife Business

Election for Husband and Wife Unincorporated Businesses