Hi,
I do the consulting work through my LLC which is owned by our Family (jointly by me and wife) living trust. For the Federal tax filing purpose, can both me and my wife just report the income from LLC on 1040 schedule C? Asking this because Since LLC is only owned by Joint Family living trust, which is basically a single member LLC and is disregarded and since Living trusts are disregarded as well and all the income passed to trustors and reported by trustors while living.
Should we just file 1040 with schedule C income for both me and wife or should we also need to file either 1045 or 1065 with k-1 issued to us?
Thank you!
