wbs
New Member

My wife and I jointly own an LLC. We have two 1099-Misc (made out to the LLC). How do we report those in TT so that the income is divided according to our ownership %?

I have seen suggestions that the 1099s are reported by one and/or the other, then expensed by one to the other in proportion to the ownership share, but it's not clear exactly where the expense would be shown in TT or on Schedule C, or where the income would be captured on the other spouse's Schedule C.  (I.e., we are each filing a separate Schedule C, and need to divide the income from the 1099s between them).