Discussion:LLC with husband and wife members
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(Difference between revisions)
| Revision as of 22:09, 14 April 2008 CrowJD (Talk | contribs) (I'd file as Scd.) ← Previous diff |
Revision as of 22:13, 14 April 2008 Tiredoftaxes (Talk | contribs) (The husband did) Next diff → |
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| {{ForumReplyPost|UserID=CrowJD|Date=14 April 2008|Text=I'd file as Scd. C with clients consent. I don't see why they still can't operate under the LLC. H-W who are the sole owners of a business, who both materially participate in the business, and who file a joint return can elect to file as sole proprprietors starting with 2007 returns. Follow 2007 instructions to Scd. C for reporting the respectives shares.}} | {{ForumReplyPost|UserID=CrowJD|Date=14 April 2008|Text=I'd file as Scd. C with clients consent. I don't see why they still can't operate under the LLC. H-W who are the sole owners of a business, who both materially participate in the business, and who file a joint return can elect to file as sole proprprietors starting with 2007 returns. Follow 2007 instructions to Scd. C for reporting the respectives shares.}} | ||
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| + | {{ForumReplyPost|UserID=Tiredoftaxes|Date=14 April 2008|Text=The husband did all of the work, do you think that I should just give him all of the income since the 1099's are under his name? With regards to the consent, should I just create some type of statement regarding the options and let him choose? What is the chance that the IRS would catch that if there never was a tax id requested?}} | ||
Revision as of 22:13, 14 April 2008
Discussion Forum Index --> Basic Tax Questions --> LLC with husband and wife members
Discussion Forum Index --> Tax Questions --> LLC with husband and wife members
Tiredoftaxes (talk|edits) said: | 14 April 2008 |
| I have a new client who just gave me data. They started an LLC during 2007 but never got a tax ID. The husband and wife are both members. The business existed for about 6 months during the year. He contracted with companies under his LLC name. However, since they didn't get tax id, the 1099-misc's were sent to him under his SS# under his name and then D/B/A the LLC. I need to file extensions, but do I need to get tax id for LLC as partnership and file a partnership extension? Or since it is under his SS#, do I forget about the LLC. Help!! | |
| 14 April 2008 | |
| I'd file as Scd. C with clients consent. I don't see why they still can't operate under the LLC. H-W who are the sole owners of a business, who both materially participate in the business, and who file a joint return can elect to file as sole proprprietors starting with 2007 returns. Follow 2007 instructions to Scd. C for reporting the respectives shares. | |
Tiredoftaxes (talk|edits) said: | 14 April 2008 |
| The husband did all of the work, do you think that I should just give him all of the income since the 1099's are under his name? With regards to the consent, should I just create some type of statement regarding the options and let him choose? What is the chance that the IRS would catch that if there never was a tax id requested? | |
