Business & farm

This information is super helpful. Thank you for that. I did talk with an accountant but was uncomfortable with his input, which is why I posted here. I'm not sure he has not provided me accurate advice. Your input sounds much more correct to me given what I can read on the IRS website. However, there is one clarifying question I have and this may be what my accountant is thinking.

 

The two partners in the multimember LLC are husband and wife. I believe he thinks two Schedule C's could be done, one for the husband and one for the wife.