@Opus 17 wrote:
I’m not sure why it’s necessary to quibble over the term “qualified entity“, or “qualified joint venture“. The end result is the same.
Because they are what is referred to "terms of art"; they each have a specific meaning.
@Opus 17 wrote:
I do not believe it is correct or appropriate to file as two separate businesses (which would require 4 schedule C’s) just because the spouses are doing two sets of business activities as DBAs under the same LLC.
The fact that they have the same LLC is irrelevant since it is disregarded for federal income tax purposes. If the two businesses that are being operated are separate and distinct, then a Schedule C should be filed for each one (if they decide to make the election to be treated as a qualified entity rather than a partnership).
As far as what you believe, that is largely irrelevant; you need to cite authority for your stated proposition (or at least guidance from an official source).
