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Get your taxes done using TurboTax
The nominee is your partnership name and EIN. Then you will create a 1099-K for the partnership with all of the income coming from you as an individual. That 1099-K needs to be prepared and submitted separate from your partnership and individual returns.
On your individual return you will have a schedule C that shows all of that income along with an expense - just entered on one of the lines (TurboTax has the ability to enter expenses with a name created by you) that says "Nominee (name of your partnership) (EIN of your partnership). That zeroes out the income on your personal return and lets it come in through the K-1 from your partnership.
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‎April 14, 2025
12:59 PM