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Business & farm
You file a partnership return, form 1065. The partnership does not pay any tax. Instead the partnership issues a schedule K-1 to each of the partners, reporting his/her share of the profit or loss. You then each report your share on your individual tax return.
See <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4116728-schedule-k1-form-1065">https://ttlc.intuit.com/questions/4...>
See <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4116728-schedule-k1-form-1065">https://ttlc.intuit.com/questions/4...>
‎June 1, 2019
1:06 PM