TurboTax suggests splitting business income and expenses instead of filing a partnership return. Splitting the expenses is no issue, but the only income is reported on 1099-misc.
How do we split that?
You'll need to sign in or create an account to connect with an expert.
Spouse #1 reports the entire 1099-MISC on their Schedule C.
Then in the Other Expenses area Indicate that 50% of the MISC was issued to Spouse #2. (Put Spouse name and social security number int he description.
Spouse #2 can enter the income one their Schedule C as other income.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
divmomkr
Returning Member
thegrandma
New Member
splitting927
Returning Member
Atf1
Level 2
Daniel123456
Returning Member