Since the business is an LLC then having it on schedule C is just fine. But @KrisD15 is absolutely right - you can't keep switching who files each year. So your idea with the 1099 is fine. Have your brother issue you a 1099 from the company and then put it on your return and go from there. Or you can draw up papers and have your brother sell you the company and then you can put it on your tax return going forward. All of these are things that you should be discussing with a legal professional who can get your company set up right and help keep you out of trouble.
@stech
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