Vanessa A
Expert Alumni

Retirement tax questions

If you have an LLC partnership, you would need to file a 1065 using TurboTax Business which would generate a Schedule K-1 for both you and your wife. You would then report the K-1 on your personal 1040 return which is where it would be taxed at your personal income tax rate.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"