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Business & farm
You have a few issues going on here:
- One, is understanding whether you have a partnership tax return filing requirement. You don't indicate whether you reside in a community property state. As stated by @Mike9241 this impacts the decision.
- Two, is understanding the filing of your personal tax return(s).
- Three, are you both active in the business?
- When did the business actually start?
- What expenses were incurred?
- Until we understand all of the above, it is not possible to provide good guidance.
- You need to address this quickly, as if you do have a partnership tax return filing requirement, this return is late and penalties have accrued.
*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.
Also keep in mind the date of replies, as tax law changes.
‎January 8, 2023
10:27 AM
1,700 Views