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Investors & landlords
Since you are running your business as an LLC you do not qualify to file as a Qualified Joint Venture (Schedule C on a joint return) unless you lived in a community property state. Therefore you will need to report 2022 income on a partnership tax return (Form 1065) with Schedule K-1s going to each of you.
The partnership return will need to file in SC but only needs to file in DC if there is additional income to report from DC sources. Additionally, there are nonresident partner withholding taxes and entity-level potential tax liabilities that may need to be paid throughout the year. See SC Partnership for more details.
Personally, you will need to only file a state tax return for your personal state of residency.
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‎February 4, 2023
9:19 AM