JP0428
Level 1
2 weeks ago
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If I have only 2 partners owning 50% each
Is my answer to question 2b on Schedule B Yes or No?
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Employee
2 weeks ago
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Since that question specifically states "an interest of 50% or more", your answer would appear to be "Yes" and Schedule B-1 would be needed. However, we would advise to refer to the IRS form instructions for definitive instructions on your client's situation.