We are multi member LLC ( me and my spouse). This year how do we bring the LLC (income/losses) to our personal joint return? We are filing married jointly.

[Anonymous_]

If your LLC is owned by you and your spouse as community property in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin) and no other person could be considered an owner, then you can treat the LLC as a "qualified entity"; each of you can file a Schedule C in accordance with your interests in the LLC.

See https://www.irs.gov/pub/irs-drop/rp-02-69.pdf

Otherwise, you need to file Form 1065 for your LLC and issue K-1s to each of you.

See https://www.irs.gov/instructions/i1065#idm140377998428192

[npierson7]

It depends how your LLC is classified for federal income tax purposes. If you filed Partnership tax return, you had to issue forms K-1 and you need to include them in your personal tax return. If your LLC is disregarded entity for federal tax purposes, you'll need to divide all income and expenses items according to ownership between tow of you; complete two Schedule C and include them in your personal tax return. 

You can find more information here: 

How should a husband-wife LLC file

Limited Liability Companies

[Anonymous_]

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@npierson7 wrote:

...If your LLC is disregarded entity for federal tax purposes, you'll need to divide all income and expenses items according to ownership between tow of you; complete two Schedule C and include them in your personal tax return. 

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The above quoted passage would be correct, except a multi-member LLC cannot be treated as disregarded unless two spouses own the LLC and hold their interests as community property in a community property state.

If the spouses are in a common law state, they would have to file a Form 1065 for the LLC.

[Opus 17]

further information. A form 1065 partnership return can only be prepared in TurboTax for business. This is a separate program and is only available as a CD or download to install on a PC, there is no Mac or online version.  Partnership returns are due on March 15 and the late fee is $195 per month per partner.  As part of preparing the 1065, each partner will receive a K-1 statement that will go on their personal tax return.

[Anonymous_]

Even more information, @bigyan05:

If you have absolutely no familiarity with accounting principles (particularly those that apply to pass-through entities) and no familiarity with maintaining books and records, then you might want to seek the services of an experienced bookkeeper or accountant. 

Similarly, if you have no familiarity with preparing income tax for pass-through entities (as well as the various time schedules and requirements), then you might want to seek guidance from a tax professional (link below) rather than try to go the DIY route with TurboTax Business.

See https://taxexperts.naea.org/