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de minimis safe harbor for 2 Schedule C businesses
Preparing 1040 for TY2023, joint return, each of us has a separate Schedule C business. Last year (TY2022), each of us made separate "de minimis" elections for our separate Sch C businesses (using TaxAct), and the software generated separate election statements. With TurboTax Home&Business (desktop download, Win 10, latest update 10/1/24) for TY2023, it only generates one "joint" election statement (with just my SSN), and includes no business names or Sch C reference(s) on the statement. Is there a way to generate separate ones (that also indicate the business it's for, with the appropriate owner's SSN)? Have the regulations changed regarding this?
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‎October 10, 2024
10:30 AM