I have been operating a retail business as a sole proprietor since 2017. I live in Texas and want to stablish a qualified joint venture so my wife will get credit for social security purposes. When I create the additional schedule C to split income and expenses, how do I handle beginning inventory. If I split the inventory the beginning inventory on my schedule C will not match the ending inventory from last year. Should I attach an explanation with my schedule C and if so is there a way to do that in TurboTax so that I can still file electronically?
A related question is would it serve the same purpose of getting social security credit for my wife if I just pay her a salary and give her a 1099 that she would claim as income?
