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alesaucedo13
New Member

Hi, I have online business with my sister. Im not sure if I need or if I should include the business to my taxes. Or should they be a separate filing?

 
1 Reply
RobertG
Expert Alumni

Hi, I have online business with my sister. Im not sure if I need or if I should include the business to my taxes. Or should they be a separate filing?

If you are self-employed, you should report the income and expenses in the income section under Self-employment income and expenses.

 

If you have a partnership, you should file a Partnership return, form 1065, and the income or losses of the Partnership will be reported to the partners on Schedule K-1, which is then reported on your 1040.

 

 

For further information please see the TurboTax website: Form 1065, U.S. Return of Partnership Income

 

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