we don't know what the business arrangement is between you and your brother but if it's supposed to be 50/50 and you are reporting it all, that might rise to the level of tax evasion. also, if your bro is to share in the business activities there's a need to file a partnership tax return if no entity election was made. failure to file can result in a penalty of about $5,000 if the 1065 is filed a year late. it was due 3/15/2024 for 2023. if on the other hand, the business is entirely yours, and it's not rental real estate, royalties, farming, or investment activities such buying/selling securities. Schedule C would probably be the proper form. if investing closed rades go on schedule D/8949, interest on 1099-int, dividend on 1099-DIV. most investment expenses except investment interest expense (schedule A) are no longer deductible for Federal purposes.
