We are a qualified joint venture. We are filing a joint return. The system does not allow us to have both of our names under the business. Why?

[neverlandballoon]

Turbo Tax dose not allow us to name the business and then add both of us under the business. It is forcing us to create another business with the same name and then divide the income and expenses based on our ownership %.  Since all of our income comes from the business it makes more sense to have the business income and simply show that we both make income from that business

[rjs]

It may make more sense to you to report it as one business, but the IRS requires you to file a qualified joint venture as two separate businesses, one for each of you. TurboTax makes you do it that way because that's what the IRS requires. Taxes don't always make sense.