I started working with my husband 10 years ago. When I joined the business, we set it up as a Qualified Joint Venture, split 60/40. About 3 years later, we changed the percentage to 80/20 since I wasn't working as much as I anticipated I would (I do make sure I meet the IRS requirements for materially participating in the business). I am wondering if we can change the percentage again? I don't see anything in the IRS literature that addresses this. Thanks in advance.
