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Can spouses who co-own an LLC report their business earnings/losses through Turbo Tax Self-Employed?
For context, we are married filing jointly, and our LLC made very little. I read on other streams that spouses who partner in an LLC can qualify as a single member LLC, and those can be treated as a "disregarded entity", and that we can report our earnings and expenses on Schedule C of our personal tax return. Does this sound correct, or are we missing anything?
Thank you in advance!
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‎October 14, 2022
8:52 PM