- Husband & wife filing jointly
- Owning an LLC (unequal ownership 45%, 55%), named XYZ
- Working on entering two Schedule K-1 (1065) forms for the XYZ LLC (from TT Business)
When entering the second Schedule K-1, I get asked "Should XYZ LLC be treated as part of a combined business?", where "XYZ LLC" is listed as one of the existing options (from the first Schedule K-1 that was entered). Intuitive answer to me is yes, and then I select the listed XYZ LLC and asked to be combined with it (I've exercised this path, but haven't filed yet), which then asks me to explain why these "two businesses" are eligible to be combined.
It seems odd to me, that married joint filers who also jointly own an LLC need to explain why their "two businesses" can be combined (for better QBI deduction I assume). Does this sound right? Is this the expected way to enter this information. This should be a common scenario for many.
