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linna
New Member

married couple business

We are co-owners of the business, yet all income/1099s are made out to my husband. 

Can I still split them in half to make equal schedule Cs if all of the income went to his SSN as TIN?

 

using home & business

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3 Replies
AlanT222
Expert Alumni

married couple business

Yes, you can split everything in half to make two equal schedule C's.  

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linna
New Member

married couple business

all 1099s go to husband's TIN. should I List the toal in husband's Sched C, then list 50% payout to me in other expenses on his schedule C  and then list that amount as general income on my schedule C?

DawnC
Expert Alumni

married couple business

You can do it that way or you can just divide up the income and report half on each Schedule C.  The results will be the same.  Keep detailed records of your handling of the income no matter which option you choose.  

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