DawnC
Expert Alumni

Business & farm

You pay SS and Medicare tax (SE employment tax) on the businesses net income.   Having 2 Schedule Cs is the way to credit the tax payments to each of your accounts.   If you don't divide the income and expenses, all of the SE tax payments will go to one person.   One Schedule C should reference your SSN and the other should reference your spouse's SSN.   @Beachcomber 

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