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Husband/wife LLC filing requirements

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    #1

    Husband/wife LLC filing requirements

    A husband and wife are equal owners in LLC. Can they file a schedule C?
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    #2
    No. If it weren't an LLC they could have filed two Schedule C's (so not "a" schedule C) but as an LLC they wouldn't qualify for QJV so you're looking at a 1065.

    404 | Internal Revenue Service
    http://www.irs.gov/businesses/small/article/0,,id=177376,00.html
    404


    A business owned and operated by the spouses through a limited liability company does not qualify for the election

    Only businesses that are owned and operated by spouses as co-owners (and not in the name of a state law entity) qualify for the election.

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      #3
      What state?

      There is a bit more leniency in community property states. What state do they live in?
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