jrcayer
New Member

Is my LLC considered a partnership for the purpose of a W9 form if both my spouse and I are listed as members?

I am referring to box 3 of the W9 form.
Anonymous
Not applicable

Business & farm

yes.  you most likely should be filing a partnership return.  the tax law provision that would let you report the business activity on either 2 schedule C's or E's (a qualified joint venture) does not apply to an h/w LLC. 

Business & farm

Yes and No.

There is a specific box to mark for LLC and then you will make the partnership designation.

Just want to be clear that you don't mark the partnership box.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Anonymous
Not applicable

Business & farm

@Rick19744 you are wrong. the LLC is for a single-member LLC only. here we have husband and wife - a partnership.  

Business & farm

The W-9 form is quite clear ... a single member LLC defaults to  a Sole Prop &  a multi member LLC  defaults to a Partnership unless the entity choose to be filed as a Corporation or an S-Corp ... you should know what you choose on the SS-4 form when you applied for the EIN ...

 

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Business & farm


@Anonymous wrote:

@Rick19744 you are wrong. the LLC is for a single-member LLC only. here we have husband and wife - a partnership.  


@Anonymous: @Rick19744, I believe, was referring to the "Limited liability company" box in Section 3 on the W-9 that is directly below the first row of checkboxes (see @Critter-3's screenshot). That box would be checked and then a "P" would be entered to designate "partnership".

Business & farm

Yep.  Agree with @tagteam understanding of my response to the W-9 question.

 

 

 

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Carl
Level 15

Business & farm

Understand that if your LLC has more than one partner/member/owner listed on the registration with the state, it's not "considered" a partnership. It ***IS*** a partnership/multi-member LLC.

If you do not live in a community property state, then you're required a file the 1065 Partnership Return.