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Disregarded Single Member LLC can it convert to a Qualified Joint Venture

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    Disregarded Single Member LLC can it convert to a Qualified Joint Venture

    A single member LLC, ended its Rental activity, on May 15th 2007. at that time took up a new Sch C business activity with its spouse. The question is can they elect the Qualified Joint Venture and report their apportioned income and expenses on seprate Sch C's, or will they be required to default to a 1065 partnership due to the LLC status??
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