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Business & farm
@Carl wrote:
...if you make her an owner then you no longer have a sole proprietorship or single member LLC. You have a multi-member LLC or Partnership which must file it's own physically separate 1065 tax return...
That does not have to be the case, however. A "qualified joint venture," whose only members are a married couple filing a joint return, can elect not to be treated as a partnership for federal tax purposes.
‎January 2, 2020
2:58 PM