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posted Mar 19, 2020 6:05:54 AM

Schedule C

My husband and I have a vending machine business and we are reporting it on Schedule C. We are splitting the expenses and income 50/50. Can we use the same business name for both Schedule C's?

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2 Replies
Expert Alumni
Mar 19, 2020 6:21:59 AM

Yes - you can use the same business name.

Level 15
Mar 19, 2020 6:28:10 AM

No. You can not use the *same* *exact* business name. That's because SCH C is designed and intended for a single owner business. If you e-file two SCH C's with the same exact business name, it will be rejected because two people can't own a single-owner business.

So to make them different *ON* *PAPER* simply name one something like "Ike's Vending Services" and the other one something like "Ike's Vending Svcs" So that they are not letter-for-letter identical. Then the IRS computer's won't have an issue with that.

The above assumes you live in a community property state. If you do not live in a community property state then this method is not acceptable or legal with the IRS.