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Get your taxes done using TurboTax
Who are the partners? If you and your spouse are the only partners, and you live in a community property state, you have the option to treat the LLC as a disregarded entity instead of as a partnership. If you choose to do that, you would not file a Form 1065 partnership return, so would not need TurboTax Business. Instead, you and your spouse would each include a Schedule C in your personal Form 1040 tax return for your respective shares of the business. But that's only if you and your spouse are the only owners of the LLC, and you live in a community property state. The community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
‎August 5, 2020
3:03 PM