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Business & farm
@Opus 17 wrote:But only they can clarify.
I agree; that initial statement is ambiguous and needs clarification.
One thing is apparent from the original question is @rwom1217 purportedly "does all the work". As a result, if there is no LLC a QJV won't work (technically) since @rwom1217's wife does not materially participate.
It appears as if the yield here, assuming a joint return, is there is little impact in terms of reporting, regardless, other than @rwom1217's wife getting credit for Social Security and Medicare.
‎September 3, 2023
7:21 AM
2,043 Views