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Business & farm
With a qualified joint venture, each spouse must divide all the income & expenses in accordance with their interest in the business, and each must file a separate Schedule C (and, if otherwise required, a separate Schedule SE) with their jointly filed tax return.
You have three years from the due date of the original return to file an amended return.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎June 9, 2023
7:31 AM