My wife and I formed an LLC (Domestic Limited Liability) in 2020.
So if both you and your wife own the LLC, that means you have a multi-member LLC. You reported the income/expenses for that multi-member LLC on IRS Form 1065/Partnership return, which is due to the IRS by March 15th. That multi-member LLC issued each of you a K-1. Each of you will enter your K-1's on the 1040 joint tax return.
Under no circumstances and with no exceptions, will you file a SCH C for this business. So if you started the SCH C on your personal joint 1040 tax return, you need to delete that SCH C entirely. The SCH C is only used for a business with one owner, and that is not incorporated. Your business has two owners, so SCH C will not be used.
