topic Using the "Business" s/w for multi-member LLC (spouses), not "Home & Business". Have 1099-misc income for business. How to avoid entering same income in personal return? in Business & farm

Using the "Business" s/w for multi-member LLC (spouses), not "Home & Business". Have 1099-misc income for business. How to avoid entering same income in personal return?

rick-otto0 — Tue, 04 Jun 2019 00:35:40 GMT

Do I enter it by describing it in it's own receipts and sales category, and then just not enter it in my personal tax return?

Rick19744 — Tue, 04 Jun 2019 00:35:41 GMT

You enter all the business income and expenses into the TT Business software. Once the return is complete, you will each receive a Schedule K-1.

You will then use the K-1 information and enter that into which ever TT individual software program you are using.

Just as an FYI, the partnership return form 1065 was due March 15th and is now late unless you filed an extension.