Husband/wife LLC filing requirements

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  • gman
    Senior Member
    • Dec 2005
    • 676
    #1

    Husband/wife LLC filing requirements

    A husband and wife are equal owners in LLC. Can they file a schedule C?
    Tags: None
    • David1980
      Senior Member
      • Feb 2008
      • 1703
      #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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        • DaveinTexas
          Senior Member
          • Jan 2006
          • 731
          #3
          What state?

          There is a bit more leniency in community property states. What state do they live in?
          Circular 230 Disclosure:

          Don't even think about using the information in this message!

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