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Level 1
June 1, 2019
Question

Splitting 1099misc married couple

  • June 1, 2019
  • 1 reply
  • 0 views

TurboTax suggests splitting business income and expenses instead of filing a partnership return. Splitting the expenses is no issue, but the only income is reported on 1099-misc.

How do we split that?

1 reply

Level 2
June 1, 2019

Spouse #1 reports the entire 1099-MISC on their Schedule C.

Then in the Other Expenses area Indicate that 50% of the MISC was issued to Spouse #2. (Put Spouse name and social security number int he description.

Spouse #2 can enter the income one their Schedule C as other income.


 

Level 2
June 1, 2019
Hi Mike T, can this same method (splitting the 1099misc) be done with non-spouse business partners?