Discussion:SE tax Husband and Spouse
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
(Difference between revisions)
| Revision as of 20:24, 8 October 2009 Solomon (Talk | contribs) ← Previous diff |
Revision as of 20:28, 8 October 2009 Solomon (Talk | contribs) Next diff → |
||
| Line 13: | Line 13: | ||
| {{ForumReplyPost|UserID=Solomon|Date=8 October 2009|Text="''I remember reading that in a community prop state all Sch-C from a business could be reported on one form. ''" | {{ForumReplyPost|UserID=Solomon|Date=8 October 2009|Text="''I remember reading that in a community prop state all Sch-C from a business could be reported on one form. ''" | ||
| - | Only if there is one business and there is material participation by each spouse can one Sch C be used - but still two SE's based upon percentage of participation by each. See RP 2002-69.}} | + | Only if there is one business owned by spouses can one Sch C be used - but still two SE's based upon percentage of participation by each. See RP 2002-69.}} |
Revision as of 20:28, 8 October 2009
Discussion Forum Index --> Basic Tax Questions --> SE tax Husband and Spouse
Discussion Forum Index --> Tax Questions --> SE tax Husband and Spouse
| 8 October 2009 | |
| Taxpayer has Sch-C income ($1000) and Spouse has Sch-C loss ($15000). I’m not sure why for SE tax purposes these can’t be netted for an overall net loss? I keep thinking these need to be separated for SE tax purposes? Any suggestions or cites? | |
| 8 October 2009 | |
| I'm really surprised a tax pro would not know the SE earnings of two spouses can't be netted for purposes of calculating the SE tax. He owes SE tax on his $1000 and she owes no SE tax. Pretty basic stuff there. | |
| 8 October 2009 | |
| I remember reading that in a community prop state all Sch-C from a business could be reported on one form. I know they cant be netted due to separate FICA/SS purposes. thanks | |
| 8 October 2009 | |
| "I remember reading that in a community prop state all Sch-C from a business could be reported on one form. "
Only if there is one business owned by spouses can one Sch C be used - but still two SE's based upon percentage of participation by each. See RP 2002-69. | |
