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Business & farm
Since we call the business one name, I filed only one Schedule C. Obviously, we both received many W-2Gs. QUESTION: Can I report the winnings from both of our W-2Gs in the one Schedule C?
NO ... if "WE" have "A" business then you have set up a partnership and a partnership return needs to be filed. If you live in a community property state then you could have a Qualified Joint Venture. Seek local professional guidance to get this done correctly. Penalties for failing to file a form 1065 are $205 per partner per month starting last March.
‎June 28, 2021
10:56 AM