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.