JP0428
Level 1

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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Intuit_Kallana
Employee
Employee

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.