topic Splitting 1099misc married couple in Get your taxes done using TurboTax

Splitting 1099misc married couple

saulpatinojr — Sat, 01 Jun 2019 18:55:22 GMT

TurboTax suggests splitting business income and expenses instead of filing a partnership return. Splitting the expenses is no issue, but the only income is reported on 1099-misc.

How do we split that?

Spouse #1 reports the entire 1099-MISC on their Schedule...

MikeT1 — Sat, 01 Jun 2019 18:55:24 GMT

Spouse #1 reports the entire 1099-MISC on their Schedule C.

Then in the Other Expenses area Indicate that 50% of the MISC was issued to Spouse #2. (Put Spouse name and social security number int he description.

Spouse #2 can enter the income one their Schedule C as other income.

Hi Mike T, can this same method (splitting the 1099misc)...

compliance — Sat, 01 Jun 2019 18:55:24 GMT

Hi Mike T, can this same method (splitting the 1099misc) be done with non-spouse business partners?

Non-spouse business partners must file a partnership tax...

SweetieJean — Sat, 01 Jun 2019 18:55:26 GMT

Non-spouse business partners must file a partnership tax return, Form 1065. Each partner then gets a K-1 for his/her respective share.