Investors & landlords

@christopherJasonShields and spouse cannot file as a QJV unless they hold their interests in the LLC as community property in a community property state.

 

Only businesses that are owned and operated by spouses as co-owners (and not in the name of a state law entity) qualify for the election. See Rev. Proc. 2002-69, 2002-2 C.B. 831, for special rules applicable to married couple state law entities in community property states.

 

See https://www.irs.gov/pub/irs-drop/rp-02-69.pdf