Interesting. Thanks.
So let's say for sake of discussion, in the first year my 1099s total 90% of the profits and my spouse's 1099s contribute 10% of the profit to the business. According to this, we'd file our 1040 by "dividing all items of income, gain, loss, deduction, and credit between them in accordance with each spouse’s respective interest in the joint venture."
In this case, then, do we each file a separate Schedule C to our 1040 by divvying up our contributions using a 90/10 ratio?
