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Move from sole-proprietor to qualified joint venture
Me and my spouse meet the requirements for a qualified joint venture. I have been filing as a sole proprietor for several years and I've very comfortable and familiar with how to enter all tax info. I found some info about entering "form mode" and changing the schedule C to a joint venture. When I go back to step-by-step mode, it tells me I should be filing as a partnership. Do I just ignore that and continue like normal? Are there additional things I must do to make this legit for the IRS. I'm very cautious and really don't want any tax head aches. Bottom line question, Do i click the joint venture box and that's it? Continue through Turbo tax like normal?
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‎February 19, 2025
7:26 AM