I received K-1 on joint investment with my spouse

[Jama2]

I received a joint K-1 with my husband because we invested in an LLC as JTWROS. The Schedule K-1 only has his social, but both of our names. Is that okay since we invested in the LLC as JTWROS and the paperwork only asked for one of our socials? If not, what follow-up actions do I need to take? Thanks.

[pk]

@Jama2 , if you file as MFJ  ( Married Filing Jointly), there is no issue with having only one SSN reported on K-1.  If however, you choose to file MFS ( Married Fling Separate ), then the K-1  SSN becomes  the reporting  SSN  OR one owner needs to transfer ( using 1099 /K-1 ) to the other owner an equivalent/equitable portion of the reported numbers .

Does this make sense ?

[Jama2]

Thanks! Appreciate the info if we file MFS (we file MFJ).