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How do I change percentages for husband/wife partnership?
I have a partnership LLC with my husband in the state of Virginia with a 51%/49% split. His earnings/contributions have become minimal, so I want to change the percentages to reflect this on our taxes. I would like to do this effective January 1, 2020. What do I have to do to make it official with the IRS? And how do I make the change in Turbo Tax (I experimented with it on my 2019 taxes and couldn't figure it out.)
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May 21, 2020
4:34 PM